Balls Food Stores Transfers Company Ownership to Associates
An ESOP is a qualified retirement plan established as a trust, enabling current and future teammates to receive beneficial ownership in the company over time. Eligible BFS teammates will receive allocations of company stock with no out-of-pocket contributions, helping them improve their financial security while allowing the company to invest in its most important asset: its people.
“It will be business as usual and everyone’s roles and responsibilities will remain the same,” explained Ball. “We’ll continue to be a teammate-centric, customer-focused company committed to the communities we serve.”
On June 25, BFS closed all of its stores at 5 p.m. to permit all 2,600 of its teammates to come together to mark the anniversary – and hear about the ESOP – at a party, which included giving away a car. The event took place at the Overland Park Convention Center.
David Ball’s grandparents, Sidney and Molly Ball opened their first grocery store in 1923 in Kansas City, Kan. In 1975, Fred Ball, David’s father, took the helm and led the company until 2000, when David became president. In addition to its grocery stores, BFS owns Tippin’s Pies.