Employees get huge payouts after Minnesota Rubber and Plastics sells for $950M

The all-hands meeting at Minnesota Rubber and Plastics in Plymouth on Tuesday seemed routine at first. Executives from the New York investment firm KKR, the main owner of the company since 2018, stood before hundreds of employees and announced they had sold it.

Then, they quickly reminded employees that, as participants in an employee stock ownership plan, they would get a sizable payout from the $950 million deal.

"Are you guys ready to get into it?" Pete Stavros, co-head of Americas Private Equity at KKR, asked as he began to explain the payout structure.

https://www.startribune.com/employees-getting-bonuses-after-minnesota-rubber-and-plastics-sells-for-950m/600195011/