Macaran Printed Products, a division of W.N. Van Alstine and Sons, Inc., announced that the company has become a 100% employee-owned entity, converting to an Employee Stock Ownership Plan (ESOP) which became effective earlier this year.
Macaran, one of North America's highest definition pressure sensitive label converters, was founded more than 44 years ago and as an employee-owned company will continue to operate under the same business model and management structure for the foreseeable future.
Van Alstine and Sons is an industrial solutions company in the packaging space and was founded in 1950. Company President and Corporate Principal Gary Riley is very excited about the announcement and had this to say, "We believe an ESOP is the best way to reward our family of employees and ensure a bright and vibrant future for both companies."
According to CEO Nick Van Alstine, all full-time employees are now company owners, participating as shareholders. "One of the reasons we chose to institute an ESOP was to protect and reward our employees who have played critical roles in crafting our success," comments Van Alstine.
Macaran's innovative label and packaging solutions, advanced flexographic, and digital printing technology and unparalleled customer service have generated long-term growth for the business and rare levels of employee loyalty. Of the approximately 55 employees that work for Macaran today, Van Alstine states that about 85% have worked there for more than 10 years, noting that the company's leadership as a pressure sensitive converter is based on a customer-driven culture that makes service key. "Unparalleled service requires great employees who are dedicated to doing everything possible to serve the customer and as a result, grow the business," he comments.
It's a message the Macaran team understands and appreciates. Florence Brisee, Macaran's longest tenured employee, commented the following about the new direction; "Nick could have sold Macaran and instead he chose to protect his employees so that everyone keeps their jobs. He is giving back to us to allow us to continue making Macaran the best it can be." Recent hire Brent Zampier concurs. "The Plan really is an amazing motivator and steps up the unique culture we have to another level of performance. This is the only way I know of to be part owner of a company and not to have to buy in. I see it as an amazing opportunity for us all."
For Van Alstine, protecting his employees meant keeping their jobs secure both now and in a future of growing technology and robotics trends. "American workers face growing challenges," he commented. "This ESOP will help us retain valued employees. We expect the ESOP to increase the retirement security of our Employee Owners and provide motivation to make the company even more successful. We are all in this together."