EP351 100 Years of Sharing the Wealth. The Rise of Employee Ownership in Canada
About this episode
The episode discusses the history and impact of employee ownership in Canada through the story of Friesens Corporation.
Episode Summary: If you want to understand where employee ownership in Canada is going, it helps to talk to a company that has been living it for the better part of a century. In this episode, host Colleen O'Connell-Campbell sits down with Chad Friesen, CEO of Friesens Corporation - a $120 million book manufacturer and publishing company based in Altona, Manitoba (population 4,500) - to trace one of the most remarkable ownership stories in the country. Founded in 1907, Friesens has moved through nearly every ownership form imaginable: sole proprietor, family business, ESOP, hybrid, and today a 100% Employee Ownership Trust. Chad shares how the founding family turned down dozens of offers to sell because they believed the business belonged to the people and community who built it, how the company "backed into" broad-based employee ownership during the 2007-2008 crisis, and how the Friesens model went on to influence Canada's actual EOT legislation. He also introduces Tall Grass Employee Owner Equity Fund, a new venture that provides patient capital and a proven playbook to help other founders exit to their employees. It is a story about print, yes - but really about legacy…
More episodes of The Cash Rich Exit Podcast
- EP350 How Bright Spot Climate Became One of Canada's EOT Pioneers
- EP349 From $300 to a Multi-Million Dollar Exit
- EP348 80% of Small Businesses Never Sell
- EP347 From Basement Labels to a $12 Million Exit
Explore listener stats, chart rankings, contacts and more on the The Cash Rich Exit Podcast podcast page.