December 1, 2020

"Today is a huge day for our company," said Larry Kluger, president and CEO of RDG Companies. "RDG Companies (RDG), a company founded in 1976 by John Rhodes, has been sold to its employees.  We are an ESOP.  Each year the company intends to gift stock to its full-time employees, which will in time is likely to yield meaningful retirement earnings."

"The decision to pursue and ESOP was a difficult one," accordong to company founder John Rhodes, "but it essentially came down to two factors: First, RDG has a solid management team that can continue to operate the business profitably and responsibly for many years. And second, selling to the employees rather than to a third party enables the shareholders to reward the people who have been and who will continue to be responsible for its success."

 ESOP transactions are complex and the company spent two years modeling alternate structures before moving with the transaction.