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07/19/2022

Bliffert completes partial ESOP sale

Lumber and hardware firm sells part of its company to its employees.
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Bliffert exterior

After over 115 years in business, Bliffert Lumber and Hardware announced the partial sale of the company to its employees via an Employee Stock Ownership Plan (ESOP) representing the Bliffert employees.

Employee Stock Ownership Plans (ESOPs) are qualified retirement plans that buy, hold, and sell company stock for the benefit of the employees, providing an ownership stake in the company.

In the announcement made on April 10, 2022, Eli Bliffert, company vice president, outlined how important it was for the Bliffert employees, who helped grow a robust and prosperous company, to share in its ownership into the future.

The sale is a way to reward employees for their contributions to Bliffert Lumber and Hardware’s success and to ensure its long-term vitality, Bliffert said. “I am a firm believer that we are all in it together. The ESOP is the best way to ensure this.”

ESOP Partners is an ESOP service provider that changes lives by creating wealth and sustainable employment through employee ownership, said Bliffert.

It works with business owners and companies to determine if an ESOP is a good fit for their situation. ESOP Partners establishes, maintains, and sustains employee stock ownership plans throughout the lifecycle to maximize the benefits of being an ESOP company and provide employees with an ownership stake in their company.

Bliffert Lumber and Hardware has served contractors and homeowners in southeastern Wisconsin for over 115 years. Since our incorporation in 1904, we have helped the community grow by supplying building materials to hospitals, stadiums, new homes, and a variety of other projects.

“Now in our 5th generation of Bliffert family ownership, we are proud to be family-owned and operated and make sure that the personal service shows at each of our eight locations,” said Bliffert.