Leanin’ Tree to adopt ESOP ownership model

BOULDER — Beginning next week, greeting-card maker Leanin’ Tree Inc. will be owned by its employees.

The company, which has 148 workers, is transitioning from a family-owned business to one operated as a Employee Stock Ownership Plan.

Tom Trumble, Leanin’ Tree president and son of the late Leanin’ Tree co-founder Edward Trumble, has sold the entire stake in the business to the ESOP.

Trumble will step down as president and join the company’s board of directors, which will lead Leanin’ Tree along with CEO Rob Carr. 

 “It has always been a goal of the Trumble family for Leanin’ Tree to continue forever. To best ensure that happens, we have formed the Leanin’ Tree ESOP. The company’s employees are now the new owners of Leanin’ Tree.” Trumble said in a prepared statement. “We never had even a moment of doubt that this was the best possible transition for employees, the Trumbles, and also for customers, representatives, artists and suppliers. It is a win-win for all. It’s a good feeling when something feels so right.”

The ESOP transition is not expected to impact customers, suppliers or contract artists. 

 “We have a very experienced senior management team”, Carr said in a statement. “That team is fully engaged and motivated to provide the excellent products and service that our customers and partners expect from Leanin’ Tree.”

Leanin’ Tree is just the latest company in the region to transition to an ESOP. Windsor-based DaVinci Sign Systems Inc. transferred its ownership to an ESOP Trust, effective Dec. 1.

Founder John Shaw “wanted to leave a legacy and reward staff for their dedication,” the company said in a press release. “It gives workers the benefits of future appreciation of company value. Handing off ownership in this way provides a founder the comfort of knowing that the company’s legacy will be in the hands of the people who helped build it.”

“I’m honored and pleased to be able to share in the success of the firm with all of our staff and to offer the pride of ownership in the firm,” Shaw said.

Other examples of ESOP companies in the Boulder Valley and Northern Colorado include Brinkman Construction Inc. in Fort Collins, Odell Brewing Co. in Fort Collins and Left Hand Brewing Co. in Longmont. 

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