Harrell’s LLC announced that the company has become fully employee-owned through an Employee Stock Ownership Plan (ESOP) as of September 30, 2016.
“The Harrell and Schermerhorn families, previous Harrell’s owners, are confident that the Harrell’s ESOP will be the catalyst for sustained growth and heightened employee morale, while providing the foundation for the future of the company,” stated a company release dated December 13, 2016. “The decision to form the Harrell’s ESOP was made in large part in Harrell’s belief that their employees are their greatest asset. Through the Harrell’s ESOP, employees will have a greater connection to the value creation of the company in order to better provide for their future.”
The Lakeland, Florida-based company was founded in 1941 and recently celebrated its 75th anniversary. The company makes fertilizers, chemicals and accessories for the horticulture, greenhouse, landscape and turf (including golf courses and sports fields) industries.
“In addition to being one of the nation’s largest distributors of branded fungicides, herbicides and insecticides, employee-owned Harrell’s produces top-quality, custom blended fertilizers, specialty liquids, and wetting agents,” the company release stated. “Harrell’s guarantees stringent quality control procedures, tight manufacturing specifications and careful selection of raw materials for each product that carries the Harrell’s name. They are also the world-class formulator and a leading world distributor of POLYON®, the industry’s superior controlled-release fertilizer technology.”