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Industry: Email Alert RSS FeedNKH&W Inc., Kansas City, Mo., changes its name to Nicholson Kovac Inc. and announces a new employee ownership program
Agri Marketing, Oct, 2004
NKH&W Inc., Kansas City, Mo., changes its name to Nicholson Kovac Inc. and announces a new employee ownership program. "Our new Nicholson Kovac brand reflects who we are today as our employees become owners of the company through a seller-funded Employee Stock Ownership Plan (ESOP)," said President and CEO Pete Kovac.
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The ownership transfer will be through a seller-funded ESOP that will not burden the agency with debt. "The company is utilizing cash reserves and profit-driven contributions to fund the ESOP stock purchases," Kovac said. "Fewer than five percent of all ESOPs in the country are seller-funded in this way."
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