A change in ownership has taken place at The RAM Restaurant and Brewery. Yesterday The RAM Family of Restaurants and Breweries announced that it has become an employee owned company.
The RAM began back in 1971 with their first location in Lakewood, Washington. Over the past 40 years the company has expanded to more than 30 restaurants and 3 distinct brands. These include The RAM Restaurant & Brewery with three locations in Oregon at Clackamas Town Center, Wilsonville, and Salem, C.B. & Potts Restaurant & Brewery and CI Shenanigans. Since this time the brewers at The RAM have been awarded over 100 medals from institutions as prestigious as the NABA and GABF.
Having been family owned since its inception, now the business is owned by their extended family of 2,000 employees. The Ram’s team members acquired this ownership through a newly formed Employee Ownership Stock Plan (ESOP). Stock is allocated to team members over time at no cost to them. Dave Iverson, COO of RAM said, “The ESOP is our opportunity to give back to our outstanding RAM restaurant team and to tangibly recognize their commitment to the company and to our guests.” Iverson went on to say, “We wanted to share with all of those who have helped us in achieving the success we enjoy.”
After observing the growing in popularity of ESOPs among breweries and restaurant groups alike, the Iversons recognized that employee-owned companies evolve and grow for the better. As a result, they elected to implement an ESOP to create that “ownership culture” in their own restaurant and brewery locations. The ESOP structure will allow The RAM to remain independent and dedicated to its mission of providing superior quality food and ice-cold craft beers in its community-focused restaurants. Moving forward into 2015 and beyond, both Jeff and Dave Iverson will continue to lead and grow The RAM along with the senior leadership team. The announcement of this “Holiday Bonus” from the Iverson brothers came as a surprise to The RAM team as word spread this past Friday of their good fortune.
“For over 40 years we have focused on building family-oriented restaurants that contribute to the communities they serve,” said RAM President Jeff Iverson. “Forming an employee-owned company was another way for us to give back to the community, and it recognizes the hard work of each and every team member who has helped grow The RAM into the award-winning family of restaurants it has become,” Iverson added.
CSG Partners Managing Director Eitan Milstein led the transaction team. “It was a great pleasure to work for the RAM Restaurant group and help them form an employee-owned organization,” said Milstein. “The business and its many employees will no doubt benefit immensely from the transaction as the company continues to grow and prosper in the future.”