Employees now own the Ram family of restaurants and breweries, including a location at Kent Station.
Founded in 1971 in Lakewood, the company has grown to more than 30 restaurants with three distinct brands across six states; The Ram Restaurant & Brewery in Washington, Oregon, Idaho, Illinois and Indiana; C.B. & Potts Restaurant & Brewery in Colorado; and CI Shenanigans in Tacoma. The restaurants attract more than 100,000 weekly guests.
Employees recently acquired ownership in the company, according to a Dec. 22 media release from CSG Partners. The Ram’s 2,000 employees acquired ownership through a newly formed Employee Ownership Stock Plan (ESOP). Stock is allocated to team members over time at no cost to them.
“The ESOP is our opportunity to give back to our outstanding Ram restaurant team and to tangibly recognize their commitment to the company and to our guests,” said Dave Iverson, chief operating officer for the Ram. “We wanted to share with all of those who have helped us in achieving the success we enjoy.”
After observing the growing in popularity of ESOPs among breweries and restaurant groups alike, the Iverson’s recognized that employee-owned companies evolve and grow for the better.
The ESOP structure will allow the Ram to remain independent and dedicated to its mission of providing superior quality food and ice-cold craft beers in its community-focused restaurants. Moving forward into 2015 and beyond, both Jeff and Dave Iverson will continue to lead and grow the Ram along with the senior leadership team.
“For over 40 years we have focused on building family oriented restaurants that contribute to the communities they serve,” said Ram President Jeff Iverson. “Forming an employee-owned company was another way for us to give back to the community, and it recognizes the hard work of each and every team member who has helped grow the Ram into the award-winning family of restaurants it has become.”
CSG Partners Managing Director Eitan Milstein led the transaction team. CSG Partners, LLC is a boutique investment bank specializing in ESOPs, mergers and acquisitions, and capital advisory services for middle-market companies with offices in New York and San Francisco.
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