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Spinato’s Welcomes an Exciting New Era
In a remarkable transition that heralds a new chapter for an iconic establishment, Spinato’s Pizzeria & Family Kitchen has announced the shift of 49% ownership to its employees through an Employee Stock Ownership Plan (ESOP). This change, which was officially revealed in October, marks the first time in over fifty years that the family-owned business will partner with its employees in ownership.
Founded in 1974 by Ken and Elaine Spinato in Scottsdale, the pizzeria has become a beloved fixture in the Phoenix dining landscape. Now at over six locations, including Tempe and North Phoenix, the restaurant has remained a community favorite, largely due to its commitment to service and quality.
As they embrace employee ownership, the Spinato family expresses a deep sense of joy and gratitude. Anthony Spinato, the current CEO, aims to maintain the family’s legacy, taking the helm to lead over 420 team members while keeping an active role in the operations and management of the business. "We see this as a way to empower our staff and share the fruits of our labor with those who contribute to our success every day," he stated.
From Family to Community: A Legacy Reinvented
The initiative towards employee ownership emerged during a family retreat in 2022, as the Spinatos pondered their strategy for succession and legacy planning. They desired an arrangement that not only secured the future of Spinato's but also honored its long-standing commitment to its employees. By allowing team members a stake in the business, the Spinatos reinforce their belief that the collective strength of all employees will drive future growth.
This move not only guarantees the continuation of the Spinato's ethos but also enhances workplace morale, as employees now have a tangible interest in the company. Being co-owners can lead to a more invested workforce, fostering a sense of ownership, pride, and motivation among employees.
A Bright Future Ahead
As Spinato’s embarks on this innovative journey of shared ownership, it sets a positive example for other family-run businesses considering similar paths. As communities evolve, fostering deeper connections between employers and employees can lead to thriving local enterprises. With the family’s guidance and employee involvement, Spinato's is poised for a bright future filled with delicious pizzas, hearty family meals, and lasting community ties.
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