SALINA - Peter Rhodes, owner of Salina-based Syracuse Label Co., Inc., sold the 40-year-old company Nov. 30 to his employees through an employee stock-ownership plan (ESOP).
Rhodes says the move was made to prepare for his eventual retirement and provide an inside group of managers the opportunity to grow the business
Syracuse Label President Kathleen (Kathy) Alaimo, a26-year-veteran of the company, headed up the ESOP team that worked for three years to obtain ownership. Rhodes says he still plans to work at Syracuse Label, which employs 85 people and generates more than $10 million in annual revenue.
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