The parent company of Bemidji’s Marketplace Foods is now 100 percent employee-owned.
According to a release, JND Holdings President and CEO Keith Johanneson announced the company’s stock is now entirely transferred into an employee stock ownership plan.
JND Holdings was founded in 1940 by Johannesons’ parents, beginning as a small country grocery store in North Dakota.
“JND Holdings has always been family-focused, and I am proud to say that transferring the ownership to employees feels like transferring ownership to members of my own family. I would trust no one more than those who have helped build JND Holdings to what it is today to continue the Johanneson legacy. To me, JND Holdings will still feel like it is family-owned.” says company CEO, Johanneson.
JND has more than 800 employees and the corporation operates more than 25 businesses including supermarkets, liquor stores, convenience stores and real estate development entities in Minnesota, North Dakota and Wisconsin.