SECAUCUS, N.J. – Natural pet food company Freshpet announced a new employee stock ownership program for full-time employees to begin in 2019. Full-time hourly workers who have been employed by the company for at least one year will be granted equity in Freshpet annually.
"At Freshpet, we know that all of our team members contribute to our success and we believe they should all share in our success. That is the essence of true ownership," said Billy Cyr, chief executive officer, Freshpet. "We are committed to being a top employer in Lehigh Valley and a model for companies around the world for how to attract, retain, develop and reward the hard working people who are in the trenches and moving our company forward on a daily basis."
This new employee incentive comes as the company prepares to expand. Freshpet plans to increase its production capabilities with the opening of “Freshpet Kitchens 2.0,” equipped with automated features to improve quality, safety and reduce costs. The company hopes to break ground in the second half of 2020. Once completed and running at full capacity, the facility will create more than 200 jobs. Freshpet currently employs 221 manufacturers, research and development specialists, and other support roles at its campus in Hanover Township, Northampton County, PA.
Read more about corporate strategy, financial performance, mergers and acquisitions on our Business page.