St. Cloud, Minn. – Marco announced today that it distributed $2.1 million in stock benefits for fiscal 2011 to eligible employees. Their 421 employees celebrated last week at their annual shareholders' meeting where they learned about Marco's 17.2% stock appreciation and received a certificate identifying their ownership stake.
Marco increased its market share and employee base last year through two acquisitions. Marco bought the copier and printer sales and service division of Office Enterprises in Eau Claire, Wisconsin. The company further expanded its reach in South Dakota with the addition of Best Business Products, a Sioux Falls-based copier and print solutions provider with locations throughout South Dakota, and Marshall, MN.
"One of the greatest benefits a company can provide to their employees is to share in the profit," said Marco CEO Jeff Gau. "We have been doing this since 1989, contributing over $21 million to our employees' retirement."
Becoming an ESOP has helped Marco attract and retain long-term employees who understand their role in the company's performance. The company added 99 new jobs last year throughout their 20 locations in the Upper Midwest; 22 of those jobs were added at their corporate headquarters in St. Cloud, Minnesota.