Posted in Don't Miss This, Modern Times Beer

Modern Times is now employee owned

San Diego based Modern Times is now employee owned, a first for California breweries.

Recently employees repurchased 30% of shares from out of state investors, achieving at least a partial employee ownership status. The brewery plans on being 100% employee-owned in the near future. It only took Modern Times four years to be able to repurchase those shares.

What this means for you is that we now have a staff full of brewery-owners investing their various talents & abilities in a company they’re meaningfully and directly responsible for. Essentially, you should probably prepare to be even more dazzled than usual with what’s about to emerge from our brewhouse, coffee program, and upcoming new locations. This is a seriously massive step for us, and we cannot wait to share the resulting radness with all of you.

The brewery as a whole touts a list of employee incentives already, including health care, competitive salaries, two-month paid sabbatical after 5 years, unlimited paid time-off, and a take home wage of $15 dollars an hour (plus lots of free beer and coffee).

The Modern Times employee stock ownership plan was facilitated by Ambrose Advisors. Neil Brozen of Ventura ESOP Fiduciary Services has been retained as the Trustee.

The future holds not only sustainable ownership structure, according to CEO and founder Jacob McKean, but new growth and efficiency improvements, new beers, and an expanded company direction.

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