Hopkins Forms Stock Ownership Plan
COLUMBUS, OH—After nearly becoming a part of a national print consolidator earlier this year, Hopkins Printing has turned the keys of the business over to its employees. The family owned printer has joined the ranks of the employee-owned, following the creation of an Employee Stock Ownership Plan (ESOP). The ESOP was created, in part, to underscore its workers’ commitment to the company and to pave an avenue for advancing sustainable growth.
In April, Hopkins Printing signed a letter of intent to be acquired by Houston-based Consolidated Graphics. But company President Jim Hopkins felt the ESOP was in the best interest of his company. Hopkins’ management team will remain in place.
“As we considered the long-term future of the company and our employees, it seemed right to us that it be sold to our employees rather than to outside interests,” Hopkins notes. “Without the hard work and dedication of our employees, we would not have reached the success we have attained, nor would we have become one of the most award-winning printing companies in central Ohio.”