Bemidji grocer gains international attention for selling business to employees - Bring Me The News

Bemidji grocer gains international attention for selling business to employees

Author:
Publish date:

Joe Lueken, owner of Lueken's Village Foods based in Bemidji, has been fielding phone calls from media outlets around the world after he announced he was selling the company to his 400 employees.

After 46 years running the company, Lueken will transfer ownership of three stores, two in Bemidji and one in Wahpeton, N.D., on Jan. 1 through an employee stock ownership program.

Since the announcement, reporters across the United States and all over the world have contacted Lueken for interviews. The Bemidji native will appear on "Good Morning America" on Dec. 10.

ABC News reports each employee will own stock, but the number of shares will be based in their salary and years of service.

According to Lueken's website, the decision to move to employee-ownership is also in the best interest of the community: "When profits stay local, everyone wins."

Next Up

Related

Bemidji man sells grocery store to employees

Joe Lueken, 70, got his start in the grocery business in 1966, and he's become a beloved figure around town over the decades. But now he's getting out. Last week he told store employees that he was selling the company – to them.

Santorum sweater vests have business booming at Bemidji Woolen Mills

Rick Santorum's presidential campaign ordered 1,000 sweater vests from the Bemidji company and is giving them to anyone who donates $100. The company's owner says he's happy for the business but it's a little overwhelming. And he's never moved so many vests, which are usually a "back of the store" item.