It’s no secret that Publix is a Florida institution. The popular grocery store chain is headquartered in Lakeland, Florida and has over 1,200 locations across the state. But who owns Publix?
The answer may surprise you. While Publix is a publicly-traded company, it is actually owned by its employees. This unique ownership structure is known as an employee stock ownership plan (ESOP).
ESOPs are designed to give employees a financial stake in the company they work for. In the case of Publix, all employees who have worked at the company for at least one year are eligible to participate in the ESOP.
According to the Publix website, “the ESOP is just one of the many ways our associates share in the success of Publix.” In addition to giving employees a financial stake in the company, the ESOP also provides retirement benefits and can help attract and retain talented workers.
So there you have it! The next time you’re shopping at Publix, remember that you’re supporting a company that is owned by its employees.
