Me-n-Ed’s Pizzeria employees now own the local pizza chain.
Milano Restaurants International, the parent company for Me-n-Ed’s, announced that employees have taken 100% ownership of the company through a newly established Employee Stock Ownership Plan.
The big picture: Milano shareholders have transferred complete ownership to employees through a qualified retirement plan.
- Employees will receive shares of company stock annually at no cost. That allows them to earn ownership over time and accumulate tax-deferred retirement wealth.
- Milano President and CEO John Ferdinandi and Milani COO Tom Ferdinandi will remain in their current positions.
Flashback: Milano was founded in 1958 and has grown through the years to operate and franchise multiple restaurants throughout the state – including Me-n-Ed’s Pizzeria, Me-N-Ed’s Coney Island, Me-N-Ed’s Victory Grill, Blast & Brew and Piazza del Pane…