Wow. I love Bob’s Red Mill. My wife and I shop at the company store every chance we get. They sell great quality grains, legumes, among other types of food, and in bulk, if you want it. I just had some of their 13 bean soup mix on Ash Wednesday, actually. The employees there have always been top notch and very helpful to us. All this is a backdrop for the bombshell that was dropped today: Bob Moore — the founder and owner of the company — is giving the entire works to his employees. Considering they only have 209 employees, this is a big, big deal:
“This is Bob taking care of us,” said Lori Sobelson, who helps run the business’ retail operation. “He expects a lot out of us, but really gives us the world in return.” Moore declined to say how much he thinks the company is worth. In 2004, however, one business publication estimated that year’s revenues at more than $24 million. A company news release issued this week stated that Bob’s Red Mill has chalked up an annual growth rate of between 20 percent to 30 percent every year since.
Wow. As an employee of a privately-held company, you really can’t expect this. You make an agreement to do your job at the best of your ability for an agreed upon package, mostly being salary. No complaints there, but this is pretty much a dream for these workers. Instead of only the executives getting the package, they’re all getting it. Neat.
We’ll find out now, I guess, how much of their success had to do with Bob Moore himself, and his company can keep succeeding so wildly at what they do. I know I’ll keep spending my cash there (from another privately held company, by the way).
Here’s a video about it on ABC News that, unfortunately, I’m unable to embed.