If you haven't met Modern Times yet, allow us to introduce you!
Modern Times is a production brewery and tasting room in the Point Loma neighborhood of San Diego. Its name comes from a utopian community founded in 1850, and "(almost) all of their beers are named after real utopian experiments or mythological utopias!"
We're delighted to carry Modern Times beer at the co-op, not only because it's local, delicious and comes wrapped in great design, but because Modern Times is fellow co-op! All the more reason to support this exemplary company and its products.
Here's an excerpt from Modern Times' website on this inspiring news:
SAN DIEGO, CA (July 7th, 2017) – Modern Times, one of the fastest growing craft breweries in the country, is thrilled to announce that it is now employee-owned. Through the repurchase of shares held by outside investors, 30% of Modern Times is now held in an employee stock ownership plan. At only 4 years old, Modern Times has become the first brewery in the state of California to become employee-owned.
"This is my single proudest achievement as Founder & CEO of Modern Times,” said majority owner Jacob McKean. "I'm supremely excited for our deserving employees, who have shown an almost perverse degree of dedication over the last 4 years. Now, they will benefit directly from the company's success as co-owners. This is as it should be. Making Modern Times an employee-owned company gives me a sense of satisfaction that is somewhere beyond joy."
Employee ownership is a logical extension of the company's existing values and culture. Modern Times fosters a highly collaborative work environment that prioritizes the well-being of its employees, continuous innovation, the exceptional quality of its beer and coffee, and an unwavering commitment to business ethics.
"My hope is that this will point the way forward for other businesses in our industry and beyond,” said McKean. “Our trajectory shows that a company can grow at a meteoric rate while handsomely rewarding all of the people who made that growth possible; in fact, we show that it is necessary. Our values and culture are competitive advantages that have propelled us to where we are today. Modern Times is proof that a start-up brewery can compete and win in the craft beer market without selling out, all the while taking outstanding care of our employees and rewarding our investors."