Rob Johnston Jr., owner of Johnny's Selected Seeds in Winslow, decided last year

Chris Churchill

Source

Mainebiz

Date

1-15-2007

Pages

1, 16-18

Abstract

Rob Johnston Jr., owner of Johnny's Selected Seeds in Winslow, decided last year to sell the seed and garden equipment business to his employees over the next six years. Founded by Johnston in 1972, the company has nearly $13 million in annual sales, with 70 percent of sales coming from vegetable seeds. Despite his fears that the ownership transfer might cause the company to fail, Johnston likes the idea of keeping the business independent. Amy Keimel, marketing manager, says selling to employees makes sense as most of them already have a sense of ownership in the company. With a related article on the pros and cons of employee stock ownership plans (ESOP).

Subjects

Johnny's Selected Seeds Albion

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