(PRESS RELEASE) WATERVILLE, ME — On November 1st, 2021, Day’s Jewelers transferred ownership of its family-owned business to its employees. The Employee Stock Ownership Plan (ESOP) will benefit its 120 employees, making Day’s the only employee-owned and operated jewelry company in Maine and New Hampshire.
“Since my wife Kathy and I purchased Day’s in 1988, we have always set out to build a company that stands the test of time,” said Jeff Corey, VP of Marketing and Co-owner of Day’s Jewelers. “Becoming an ESOP and placing our future in the hands of our tremendous employees, will ensure the continued success of the company and culture we’ve built over the past several decades.”
Kathy Corey, Day’s co-owner goes on to say, “Since its founding in 1914, Day’s Jewelers has held the important core principle of providing the best value to our customers. When considering the future of the company, we weighed the options of selling to an outside buyer or selling to our employees. By converting the business to an ESOP, the future of the business would be kept in the hands of our employees, we could keep our current leadership, and the amazing Day’s family culture we have built.”
Day’s joins a number of other high-profile employee-owned companies in Maine, including Cianbro, Moody’s Collision, Clark Insurance, ReVision Energy, as well as Yankee Publishing, Inc., Cirtronics Corp., and Hypertherm in New Hampshire.
