NewAge(R) Industries Announces 100% Employee Ownership

SOUTHAMPTON, Pa. - Sept. 6, 2019 - PRLog -- At a company-wide meeting held September 5, it became official: NewAge Industries is now entirely owned by its employees through its ESOP (Employee Stock Ownership Plan). The event was the culmination of a plan first considered by CEO Ken Baker more than two decades ago.

"I've had a lot of other business owners ask me, 'Why employee ownership? Why not just take the highest offer and walk away?' " said Baker. "And my response has always been, 'Because I don't want to see the company that my father started, and that we've worked so hard to build, get broken into pieces, or shuttered, or absorbed by some big conglomerate.' "

NewAge's ESOP was initiated in 2006 when Baker sold thirty percent of the company to its employees. Ten percent more was sold to the ESOP in 2013, and then another nine percent in 2016, bringing the total percentage of ESOP ownership to forty-nine percent. Since its inception, the share price has appreciated 975%.

"I'm so glad to have this succession plan in place," said Baker. "It keeps everyone employed at a progressive and very successful company, and it maintains the pride of ownership we've developed over the past thirteen years."

Learn more about NewAge's path to 100% employee ownership at http://www.newageindustries.com/esop.asp or contact the Fluid Transfer Specialists^(R) at NewAge Industries by phone: 215-526-2300; e-mail: info@newageindustries.com; or at 145 James Way, Southampton, PA 18966.

About NewAge Industries

In business since 1954, NewAge Industries manufactures plastic and rubber tubing in reinforced and unreinforced styles. The company maintains a large inventory of tubing and fittings for its core product lines, provides custom extrusion and fabrication capabilities, and services customers worldwide. NewAge is a solar powered, zero landfill organization committed to continually minimizing its environmental impact.

The AdvantaPure^(R) division of NewAge Industries is ISO 9001:2015 certified and specializes in high purity tubing, hose, Single-Use process tubing manifolds, BioClosure^(R) container closure systems, and other molded components for the pharmaceutical, biopharm, biomedical, food, beverage and chemical industries. Automated product identification systems, including gamma stable RFID tags and labels, are offered by NewAge's Verigenics^(R) division. BrewSavor^(R) by NewAge Industries provides tubing and hose for craft beer, homebrew and other beverage transfer applications.

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BioClosure(R), BrewSavor(R), NewAge(R), NewAge Industries AdvantaPure(R), Verigenics(R), and "Fluid Transfer Specialists(R)" are trademarks of NewAge(R) Industries, Inc.