Switchback Brewing Company Now Employee-Owned
BURLINGTON, VT— Monday morning at Switchback Brewing Company’s annual meeting, owner and Brewmaster, Bill Cherry, announced to the brewery’s 30 employees that they had become partners in ownership of the 14-year-old company.
Cherry, who will remain as Brewmaster and President, said about the transition, “I wanted Switchback to be Vermont-owned forever. Entrusting the brewery to the employees ensures the company will carry on with its mission to provide great beer and great jobs to the local community. It’s theirs to grow and nurture and reap the benefits. It is the right thing to do and I hope all Vermonters show their support by keeping Switchback beers on their go-to list.”
Switchback officially became the first 100% employee-owned brewery in Vermont via an Employee Stock Ownership Plan (ESOP).The move keeps the brewery locally-owned and -operated, still at its original home in the South End of Burlington, VT.