Stewart’s Announces Long-Term Plan to Become 100% Employee-Owned Company

Ultimately, Stewart’s will be 100% employee-owned.

On Monday, the company confirmed to NewsChannel 13 that Gary and Bill Dake, the company’s president and chairman, respectively, are looking to gradually sell off their 60 percent stake. Employees currently own 40 percent.

The Dakes said it was part of their effort to keep the business local and not sell it to a chain of companies.

The company currently has more than 350 locations in New York and southern Vermont and more than 5,000 employees.

This story was first reported by the Albany Business Review.