Phillips Brewing and Malting Co. is set to get a new owner after 21 years in business B次元官网网址� or rather owners B次元官网网址� as founder and current owner Matt Phillips transitions the company to a new business model.

The company announced Thursday (Jan. 5) it is transitioning toward an employee-owned company, supported by an investment from B.C.-based Yellow Point Partners. Under the model, all full-time employees who have been with the company for at least three years will be able to purchase a share and become an owner.

B次元官网网址淚 founded the brewery 21 years ago, and it is a very different brewery from what it was when it began,B次元官网网址� said Phillips. B次元官网网址淭hrough those years, staff have taken on more and more responsibilities and roles here, and as they take on more of the responsibilities and I take on fewer, it just made sense that our ownership model be adjusted to give them the ups and downs of ownership to tie in to their other responsibilities.B次元官网网址�

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Phillips said the new ownership model aligns with everyoneB次元官网网址檚 interests in the company, and from his perspective will give everyone involved a greater stake in the company, both literally and metaphorically.

He said the change wonB次元官网网址檛 have any impact on the companyB次元官网网址檚 ability to create the great stating and innovative beer they have become known for, and if anything should increase the culture of teamwork and a shared vision even more than it is today.

Phillips said he is unable to speak specifically to how much ownership he plans to retain and how much buy-in will cost for employees, but he said he has no plans to retire from the company any time soon and will remain active in it.

B次元官网网址淚tB次元官网网址檚 been a lot of positive reaction as you would imagine, there is a lot of excitement here right now,B次元官网网址� he said. B次元官网网址淚 think we are going to see almost everybody who is eligible interested in becoming a part of it. And as time marches on and more and more people reach that threshold of three years, I think that enthusiasm for becoming an owner will only grow.B次元官网网址�

Since launching in 2001, the company has expanded into the soda business and malting business B次元官网网址� one of the few companies in Canada operating in that space.

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justin.samanski-langille@goldstreamgazette.com
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