• Oregonian, Thursday, February 18, 2010 10:56 AM

Bob Moore, who founded Bob's Red Mill Natural Foods in 1978 with his wife Charlee, told his 209 employees the other day that he was remaining as boss for the foreseeable future but that they had new owners. Themselves.

Despite almost daily bids from entities that either want to buy the company or take it public, the 81-year-old Moore decided to implement an Employee Stock Ownership Plan. "These people are far too good at their jobs for me to just sell it," he said.

The company markets about 400 varieties of stone-ground flours, cereals and bread mixes. In 2004, a business publication estimated its revenues at more than $24 million; a company news release states that it has had an annual growth rate of between 20% to 30% every year since.

Read the whole story at Oregonian »