An agricultural business based in Deerfield is transitioning to employee ownership.

Deerfield Ag Services, an independently owned agricultural supply and grain business, made the transition with an Employee Stock Ownership Plan that became effective Feb. 1. The business, founded by Boyd and Joan Wallbrown in 1959, is based in Deerfield and has locations in Mansfield, Kinsman and Louisville.

The company has 45 to 50 workers at the four locations, and some are seasonal.

Bill Wallbrown said he and his siblings, John Wallbrown and Beth Wallbrown-Padisak, are all in their 60s and have been looking into succession planning for several years. Rather than look into a consolidation, the siblings thought making their employees owners of the business would keep the business locally focused

They also said doing so would be in line with the original vision of their father.

"We don't consider it our business, we consider it Dad's business," Bill Wallbrown said of Boyd Wallbrown, who died in 1991.

The siblings worked with the Center for Employee Ownership at Kent State University. They learned that the Employee Stock Ownership Program would allow the business to remain privately held, at a time when consolidation is common across the agricultural retail and grain industries.

Chris Cooper, director of the Ohio Employee Ownership Center at Kent State University, said the center has been working with Deerfield Ag throughout the transition. The center, he said, also has programs to work with employee owners to help them learn how to run a business.

The National Center for Employee Ownership estimates that agricultural businesses make up less than 3% of employee owned business nationwide, lumping them in with mining and utilities. Cooper, however, pointed out that employee ownership is often an option that family-owned businesses consider when they're looking at succession planning.

"What we're seeing is that fewer and fewer children want to take over the family business," he said. Employee ownership, Cooper added, "maintains the company where it is. It becomes owned by the people who helped build it over the years."

Although there are many different structures to Employee Stock Ownership Plans, many work like a qualified retirement plan, similar to a 401K. But instead of buying stocks on the marketplace, workers would earn shares of the business, tying the success of the company to the value of the shares.

There are 335 Employee Stock Ownership Plan participants in Ohio.

Davey Tree Expert Company in Kent has been employee owned since 1979, and states on its website that it is one of the nation's top 10 employee-owned companies.

Other Portage County businesses that are employee owned include Parker Hannifin Corp., which has a plant in Ravenna; and Buehler's Market, which has a location in Aurora.

There are about 6,500 employee-owned businesses nationwide.

The Kent State Center has been working since the 1980s to help companies transitioning to employee ownership, as well as educate employees on how to run a business. The center will host a conference in April at the Doubletree by Hilton hotel in Akron for employee owners and businesses considering the move.

While some employee-owned companies have closed over the years, Cooper said many are thriving and expanding.

"It's really amazing the amount of wealth ESOP companies are generating for everyday working people," he said. "When the company succeeds, everyone at the company benefits from it."

Bill Wallbrown said the business has grown substantially since it was started by his parents more than 60 years ago. Today, the company is a full-service agricultural retail business, and offers a full range of products and services to help farmers succeed in the agricultural business.

He and his brother, John, will remain actively involved during a transition period.

Bill Wallbrown said while there are other companies that have similar businesses, merging with one of them was not the right decision for Deerfield Ag. And the Employee Stock Ownership Plan was seen as the best option because it would keep the business in the hands of the workers who helped make the business successful.

“Maintaining independence and continuing to serve our farm customers the way we always have was central to this decision,” he stated in a news release. “We approached this transition thoughtfully and prayerfully, seeking to be good stewards of the business entrusted to us while positioning Deerfield Ag Services for the future.”

He said the company spent some time working with experts, including those at Kent State, before rolling out the plan in September 2025. It was finalized in February.

"As the company grows, so does the the share value grow," he said.

Beth Wallbrown-Padisak stated in a news release that trust and continuity are important to agricultural retailers that Deerfield Ag serves.

“Our customers will continue working with the same agronomists, grain team, drivers, and customer service staff they know," she said. "The difference is that our employees now have an ownership stake in the future of Deerfield Ag Services.”

Under the structure, Deerfield Ag employees will earn ownership shares over time as a retirement benefit, starting when they have 1,000 hours of service.

John Wallbrown stated in the release that the owners wanted to provide a retirement benefit beyond the company's existing 401K plan.

“The ESOP allows us to share the future of Deerfield Ag Services with people who have helped build it.” he said.

This article originally appeared on Record-Courier: Deerfield Ag workers take ownership from founding family