Clif Bar Now 20 Percent Employee Owned

BERKELEY, Calif. Clif Bar & Co. announced the sale of 20 percent of the family-owned common stock to its employees through an Employee Stock Ownership Plan (ESOP). Owners Gary Erickson and Kit Crawford retain the remaining 80 percent of stock in the company, a leading producer of organic foods and sports products. Erickson and Crawford will remain co-CEOs of the company.

Crawford said she and Erickson founded the company with the goal of developing a place where they would want to work. She added, Employee ownership is one more way we could run a different kind of business: one that inspires a team of people to make the kind of delicious, nutritious food wed like to eat, and that strives for a healthier, more sustainable world.

The company was founded in 1992 and posted annual net revenues in excess of $200 million in 2009. Brands include the CLIF® Bar, LUNA® and CLIF Kid®. It is planning to relocate its headquarters in the fall to a more green, eco-friendly operation, which will house its 239 employees.