Transitioning a multi-generational, family-owned business to employee ownership is rarely straightforward—and the story of Packaging Concepts offers a compelling example. In a recent interview, CEO John Irace shares how the St. Louis-based packaging manufacturer navigated the complexities of selling the company to its 250 employees through an Employee Stock Ownership Plan (ESOP). After decades of family leadership, Irace turned to ButcherJoseph & Co. and UMB Bank to facilitate the transition.
Rose Thompson, Chief Operating Officer of ButcherJoseph, discusses how our Firm played a pivotal role in advising Packaging Concepts throughout the transaction. In the article, she highlights the importance of educating business owners on succession options, aligning the right lending partners, and managing a competitive capital-raising process. Her insights, along with those of UMB’s Rush James, shed light on the planning, patience, and partnership required to execute a successful ESOP transaction
