Bonner County Daily Bee

The Latest

[Click here for more]

Email this story

Printer friendly version

Workers take ownership in Litehouse
Posted: Saturday, Jan 06, 2007 - 03:34:57 pm PST
By R.J. COHN
Staff writer

--Photo by R.J. COHN
Litehouse employee Kevin Franck pours rounds of sparkling apple cider to celebrate Litehouse's announcement of selling a portion of its family-owned stock to 539 employees through an Employee Stock Ownership Plan that will allow them to own 30 percent of the company.

SANDPOINT -- The applause was overwhelming.

And deservedly so for two brothers of a $113 million-per-year salad dressing company founded a half century ago in Hope who are selling a portion of its family-owned stock to 539 employees.

After years of lightning up taste buds with unique blends of dressings and sauces embraced by consumers worldwide, Litehouse, Inc. is now lighting up its employees' economic futures.

Through an employee stock ownership plan that has been in the works for three years, Litehouse employees in Sandpoint and Lowell, Mich., will be able to own 30 percent of the company.

"This is absolutely an incredible day," Litehouse Chief Executive Officer Edward W. Hawkins Jr. told close to 350 employees who filled almost every seat at the First Christian Church, where he announced the new stock ownership plan.

"I've lived the American dream," he said. "By today's standards, starting a company like this in Hope that had a population of 175 shouldn't have happened. What were the chances that it would grow so phenomenally?

"Now that American dream is in your hands."

Passionate about the company that he and brother Doug built from its early roots in the family restaurant in 1958, Hawkins has been practically driven to make Litehouse the best customer-service driven food manufacturing company in the country with a product that have no equal.

In 1989, the company had 35 employees in Bonner County and was grossing about $6 million annually.

"That was a big deal then," said Hawkins.

Since then, Litehouse has seen the number of employees at its Sandpoint facility grow to more than 350 employees, while annual gross revenues have soared to well over $110 million per year.

"This company has persevered, and we will continue to be successful and stay profitable," said Hawkins. "Employee ownership of Litehouse has been a dream of mine for a long time, and it makes the fulfillment of my promise to keep Litehouse in the communities in which we now work even more possible."

Sharon Ness wrote on Jan 7, 2007 12:32 PM:

" I am moving to Sandpoint within the next six months. I am so proud of your decision to share your wealth with your employees. You do have the very best product on the market. It has been my favorite for many years. I currently live in western Washington. Keep up the wonderful work. "

Deb wrote on Jan 7, 2007 12:02 PM:

" Nice to see the employees get a leg up in the company. Kudos to the management. Good workers mean excellent products. "

Right On wrote on Jan 7, 2007 3:10 AM:

" Ed & Doug will never get the headlines like the Jack Welchs, Donald Trumps, and the former head of Home Depot. But Thank God for the Ed's and Doug's of the world. One day the national press wil recognize them for having more love than could get be bought by Ze Hair Piece!! "

Dean Fredlund wrote on Jan 6, 2007 9:14 PM:

" I remember when it began my first year of teaching biology in Sandpoint. We have watched the products multiply and,as we once lived in Hope, we feel a little homesick, but very proud. "

POST YOUR OPINION

* All comment posts will encounter a possible delay of up to 24 hours.

Email this story

Printer friendly version

Bonner County Daily Bee
P.O. Box 159 / Sandpoint, Idaho 83864 / 208-263-9534

Bonner County Daily Bee Online is updated at 10am PST.