(Emeryville, CA) – CLIF® BAR, the best-selling energy bar, today unveiled a new flavor, Coconut Chocolate Chip, as well as new recipes for two popular flavors – Apricot and Peanut Toffee Buzz. Upon release of the announcement, Clif Bar & Company—an employee-owned private company, or “S corporation employee stock ownership plan” (S ESOP)—was hailed by the Employee-Owned S Corporations of America as an example of the growth and success of S ESOP companies across the nation.
The new Coconut Chocolate Chip flavor combination is unique to the energy bar category. Coconut Chocolate Chip, Apricot and Peanut Toffee Buzz are available now at grocery, natural food and specialty retail stores nationwide.
“The continued growth of Clif Bar & Company is a testament to, among other things, the incredible commitment of their employee owners,” said Greg Klein, chairman of the board of directors of the Employee-Owned S Corporations of America. “When employees own their companies, as they do at Clif Bar & Company, the pride of ownership shows through, and as we’ve seen, is a real factor that contributes to these high-performing businesses. We congratulate Clif Bar & Company for another wonderful success.”
According to a University of Pennsylvania study, S ESOP companies like Clif Bar & Company create not only employee motivation and success, but also $14 billion in new savings and retirement security for workers that they otherwise would not have. This is because profits of the company flow into the ESOP (retirement) accounts of the workers. Moreover, most S ESOP employees have retirement account balances three to five times higher than the average 401 (k) or other defined contribution plans. This helps to explain why S ESOP owners like those at Clif Bar & Company are so successful, as compared with most working Americans who—an April 2011 Gallup poll found—think they will lack enough money to live comfortably in retirement.
Clif Bar & Company is a leading maker of nutritious and organic foods and drinks, including CLIF® BAR energy bar, LUNA®, The Whole Nutrition Bar for Women®; and CLIF Kid®, Nourishing Kids in Motion®. Focused on sports nutrition and healthy snacks, the employee and family-owned company is committed to sustaining its people, brands, business, community and planet.
Recently Clif Bar & Company was ranked the No. 1 brand in the Forbes Breakaway Brands survey, conducted by Landor Associates using Young & Rubicam’s BrandAsset Valuator database measuring brand momentum from 2006 to 2009.
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The Employee-Owned S Corporations of America (“ESCA”) is the Washington, DC voice for employee-owned S corporations. ESCA’s exclusive mission is to preserve and protect S corporation ESOPs and the benefits they provide to the employees who own them. These companies have an important story to tell policymakers about the tremendous success of the S ESOP structure in generating long-term retirement savings for working Americans and their families. ESCA provides the vehicle and the voice for these efforts. ESCA represents employee-owners in every state in the nation.