Varsity Brands, the parent company of BSN Sports and Varsity Spirit, is launching an employee ownership program that will make its over 7,200 employees co-owners.
The company said in a media release that this recent initiative marks a significant step in Varsity Brands’ commitment to empowering its workforce and sharing in the company’s success for those who drive it every day. Program participation is free to employees in addition to their regular pay and company benefits plan.
“Our company’s strength is built on the dedication and passion of our team members. By making them owners, we’re not just sharing in our success—we’re deepening everyone’s connection to our mission and values, which includes serving as a catalyst for positive change,” said Varsity Brands CEO Adam Blumenfeld. “This program underscores our commitment to a culture where every contribution matters, and, together, we’re shaping the future of team sports and school spirit.”
Varsity Brands introduced the ownership program at a launch event on November 8 at its Dallas headquarters, which was simulcast across nine facilities nationwide and the Dominican Republic. Employees celebrated the program’s start with presentations on employee ownership and received certificates and welcome letters, marking their new roles as co-owners.
The company reported that research shows that “combining shared ownership, increased employee voice, and financial inclusion positively impacts company performance, employee engagement, and retention—critical drivers of Varsity Brands’ commercial success.”
The initiative reflects a growing movement across corporate America, inspired by the nonprofit organization Ownership Works and its founding partners, including KKR, to give employees a stake in the value they help create.
Varsity Brands is the latest KKR portfolio company to launch a broad-based employee ownership program.
“Varsity Brands’ employee ownership program represents a powerful investment in its workforce that we believe will enhance engagement, drive productivity and strengthen business outcomes while supporting the company in being a force for good in the student-athlete experience,” said KKR Partner Felix Gernburd. “By aligning employee interests with the company’s long-term growth, Varsity Brands is building a foundation for sustained value creation that will benefit both its team members and shareholders. We are proud to support this initiative as it reinforces Varsity Brands’ leadership position.”
Image courtesy BSN Sports/Varsity Brands
