Victoria’s Phillips Brewing moves toward employee ownership, company says
CTV
Victoria's iconic Phillips Brewing Company is moving toward an employee-ownership model after more than two decades under the ownership of its founder.
Victoria's iconic Phillips Brewing Company is moving toward an employee-ownership model after more than two decades under the ownership of its founder.
The company says the move is supported by an investment from Vancouver-based Yellow Point Equity Partners.
"All employees are being given the chance to be owners as well as brewers, bottlers, and beer evangelists," the company said in a statement posted to its Instagram account Thursday.
Dedicated employees who have been with the company for three years will be eligible to become owners."
Founder Matt Phillips will remain active in the company, while its employees take on "a substantial and growing stake in the brewery over the next few years," the company said.
Phillips tells CTV News that the move is intended to reward employees, and wasn't due to any financial concerns.
"The reason why we're doing this is because over the last few years more and more staff have become more and more responsible for all the day to day operations around here," he said.
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