BOSTON (BRAIN) — Landry's Bicycles enters year 100 with the announcement Wednesday that it is now completely employee-owned.
One of the longest running American bike shops, Landry's grew its employee ownership through the sale of additional stock in the Employee Stock Ownership Plan. The company started to transition to ESOP ownership in 2010, and the final transaction was completed in January.
"Everyone who works at Landry's is passionate about cycling and serving our valued customers," said Mark Gray, Landry's general manager. "Becoming 100% employee-owned will help strengthen our commitments to collaborative teamwork, exceptional customer service, and long-term business viability, as we strive to be the best bike shop for the world. As we step courageously toward our highest aspirations, we are truly fortunate to work together as employee-owners in our company."
Landry's recently opened its eighth location at the new Hood Park development in Charlestown, Massachusetts.
Landry's was founded in 1922 with the company originally owned and operated by the Landry family until 1974, then owned and operated by the Henry family from 1975-2010.
