KANSAS CITY, Mo. — Balls Food Stores announced it will transfer ownership of its 25 grocery stores to the company’s employees.
The decision to form an Employee Stock Ownership Plan (ESOP) coincides with the KC-based grocery store’s 100th anniversary.
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“By making our teammates owners, we’re preserving the company’s culture and values – while creating a sustainable growth strategy for Balls Food Stores,” said David Ball, the third-generation president of BFS.
“Most importantly, we believe this will be a game-changer for everyone who works at BFS, something that will impact them for generations to come.”
All Hen House Markets, Sun Fresh Markets, Payless Discount Foods, and thirteen of the fifty-two Price Chopper locations in the region are owned by Balls Food Stores.
an ESOP is a qualified retirement plan established as a trust, where current and future teammates receive beneficial ownership in the company over time.
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Eligible Balls Food Stores teammates will receive allocations of company stock with no out-of-pocket contributions from them, helping them strengthen their financial security while allowing the company to invest in its most important asset – its teammates.
“It will be business as usual and everyone’s roles and responsibilities will remain the same. We’ll continue to be a teammate-centric, customer-focused company committed to the communities we serve,” Ball said.
