FARGO, N.D. — Border States is celebrating 40 years of employee-ownership in 2024.
Originally established in 1984 by former CEO Paul Madson, Border States’ Employee Stock Ownership Plan gives all employee-owners a stake in the success of the company. Under Madson's leadership, the company transitioned to 100% employee-ownership by 2000, setting the stage for extraordinary growth in the following decades.
“The establishment of our ESOP provided opportunity for every employee-owner to contribute their talent, knowledge and hard work to serve our customers' needs, grow our company and enjoy the benefits our ESOP provides for a meaningful and prosperous retirement,” said Jason Seger, Border States president and CEO. “The 40th anniversary of the ESOP is a testament to the growth a company can have through visionary leadership with a foundation built on employee ownership.”
Since 1984, Border States has grown from $40 million in sales to more than $4 billion in their most recent fiscal year. This growth has included numerous acquisitions, and geographic expansion to 31 states.
Border States kicked off their ESOP 40th Anniversary celebrations with a gathering at their Branch Support Center — corporate office — in Fargo, North Dakota on May 7. In attendance were three former CEOs — Madson, Tammy Miller and David White — along with leaders and employee-owners from across the country. Celebrations will continue throughout 2024 at Border States branch locations.
