Astor wines
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Thanks for subscribing! Look out for your first newsletter in your inbox soon! By entering your email address you agree to our Terms of Use and Privacy Policy and consent to receive emails from Time Out about news, events, offers and partner promotions. Although until now known for its free wine tastings and in-store events, the shop has just earned another claim to fame: the Fisher family that has owned it until now just sold the store to an Employee Stock Ownership Plan, which allows employees to hold shares of the company and, therefore, earn a portion of the profits. The sale, announced today, was made to an ESOP, in which shares of the business are allocated to the employees. Astor's owners, the Fisher family, explained: "the best succession plan is to entrust Astor to the people who have been so instrumental in building our enterprise.
Astor wines
Thanks for subscribing! Look out for your first newsletter in your inbox soon! By entering your email address you agree to our Terms of Use and Privacy Policy and consent to receive emails from Time Out about news, events, offers and partner promotions. Our newsletter hand-delivers the best bits to your inbox. Sign up to unlock our digital magazines and also receive the latest news, events, offers and partner promotions. Astor is a bona fide wine megastore. Free in-store wine and spirits tastings are held daily—just check the website for exact times. About us. Contact us. No thanks Awesome, you're subscribed!
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Current president Andy Fisher has led the business his late father bought in for some five decades. Astor enters a new era this year as ownership passes from the Fisher family. In a social media post last week, the store announced that the company had been sold through an employee stock ownership plan ESOP. Profits from those stocks will contribute to their retirement plan at no additional cost to the employee. In a recent interview with VinePair, Fisher shared insight into the September sale and looked back on the highlights of his time at the family business. We looked at a number of possibilities [but] there generally are two: You find a buyer, or you do an ESOP. We did a feasibility study on an ESOP, and got to know it better. There were things about it that really resonated with us. The second is the preservation of Astor.
Astor wines
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