Employee Ownership

Bennette Paints is an employee owned company. In 1984, the employees purchased the company from James P. Bennette through an ESOP (Employee Stock Ownership Plan).

The ESOP was originally developed by Dr. Louis O. Kelso as a response to what he saw as an ever increasing movement toward socialism in this country. Kelso wanted to make it possible for more people (not the government) to participate in corporate ownership. Through his ideas, and through legislation introduced in Congress by former Senator Russell B. Long (D-LA), ESOPs became a reality.

For Bennette Paints, employee ownership means that we are not just another paint company. Our people have a stake in the future of the company because it is their company! Every employee has an opportunity to play a major role in the success of the company and, as a result, benefits from that success. This results in motivated and empowered employees who are driven to produce the best products and provide the best service and value in the industry.

To learn more about ESOPs, check out The ESOP Association in Washington D.C.