Arvada, CO – Gene Milstein, founder, and his wife, Dee Milstein, co-owner of Applewood Seed Company, announce the formation of an Employee Stock Ownership Plan (ESOP), transferring significant ownership of the company to current and future employees. As part of a comprehensive succession plan, the Milsteins formed the ESOP to implement their goal of keeping Applewood Seed as a privately-held business providing high quality flower, herb and grass seed to a wide range of customers. The ESOP is designed to supplement the extensive Applewood Seed employee benefits program which includes Profit Sharing, 401(k) contributions, and a generous health plan. The officers of the company will continue to be Gene Milstein as President, Norm Poppe as Chief Executive Officer, and Ryan Guilford as Chief Operating Officer.
“We believe our company is the strongest when our employees feel valued, empowered and are given the tools to be successful in their professional and personal lives,” said Gene Milstein regarding the transition to the ESOP. “The employees’ financial interest in the company provided by the ESOP is a confirmation of our appreciation for their many years of hard work and the trust we have in Applewood Seed’s future success.”
“The ESOP provides continuity to all of our company’s stakeholders,” stated Poppe. “We are positioned for the future of the industry and excited to offer seed products that meet our high standards of quality and the excellent customer service that our customers have come to expect over the years. We continue to maintain and expand our relationships throughout the seed industry and to provide a broad array of products and services with the personalized care for which Applewood Seed is known.”
About Applewood Seed Company
Gene and Dee Milstein began in 1965 by hand-collecting wildflower seeds in the Colorado mountains and packaging them for the home garden market. Today, Applewood Seed’s research and development gardens, extensive network of seed growers, and seed testing laboratory have become integral parts of bringing high quality, open-pollinated seeds to the wholesale market as single species and seed mixes for a range of geographic regions and special applications. As a supplier to seed companies, landscapers, highway and park departments, government agencies, golf courses, nursery and garden markets, farms and ranches, pollinator habitats, professional growers, and other commercial companies, Applewood Seed looks forward to helping customers create beautiful, cost-effective, and environmentally friendly landscapes for many years to come.
For more information on Applewood Seed Company, visit www.applewoodseed.com and find Applewood Seed on LinkedIn, Facebook, Instagram, and Twitter.