PLYMOUTH, Wisc. — Van Horn Automotive Group recently announced that the company transitioned the status of their Employee Stock Ownership Plan (ESOP) from 30% to 77%, giving employees majority ownership on March 2.
Van Horn entered the ESOP in 2016 with employees as 30% minority owners. The company is the only employee owned auto group in the state.
Van Horn was named ESOP Company of the Year by the Wisconsin Chapter of the ESOP Association in 2019.
An ESOP is a qualified retirement plan, granting eligible employees a portion of company stock and ownership interest.