The Family's Getting Bigger — Spinato's is Now Family and Employee-Owned!

We are so excited to share this huge news with you! Spinato's is now family and employee-owned as an Employee Stock Ownership Plan (ESOP).

After more than five decades as a family-owned business, Spinato's Employees Get a "Slice of the Pie" as our family transitions 49% of company ownership to eligible employees.

This was a heartfelt decision that our family made more than two years after reviewing succession and legacy options. We are celebrating this new family and employee ownership partnership with joy, gratitude, and an enthusiastic nod to the future!

Same Great Team – More Pride in Ownership

An ESOP is an employee benefit plan that provides substantial benefits to the company, its current owners and its employees. Currently, there are only about 7,000 companies in the United States that are ESOPs. In Arizona, ESOPs are also rare – less than 1% of companies statewide offer an Employee Stock Ownership Plan.

The good news is that we are still dedicated to delivering "The Spinato's Experience." Our Spinato family will continue to be the majority owners, and the new ESOP provides team members with a chance to share in profits, while taking pride in contributing to Spinato's continued growth!

Anthony Spinato continues to lead our incredible team of more than 420 employees as Chief Executive Officer. And our Spinato family will continue to be active in managing operations and guiding employees as they continue to deliver "The Spinato's Experience" to our guests at our six locations in Tempe, Scottsdale, Gilbert, Ahwatukee, Central Phoenix, and North Phoenix. As the "Official Pizza" of the Arizona Cardinals, the Phoenix Suns, and the Phoenix Mercury, Spinato's also serves fresh pizza at concession stands at State Farm Stadium in Glendale and the Mortgage Matchup Center in downtown Phoenix.

Why Our Family Made This Decision

Our Spinato family began to discuss the restaurant's legacy and succession planning during a family retreat in 2022. If you are a frequent guest to Spinato's, you may have met Ken Spinato, our family patriarch. He and Elaine opened Spinato's first restaurant in 1974 in Scottsdale. Now in his 80s, Ken continues to greet guests at restaurants, but our family knew they were approaching a pivotal time in the family business.

During that retreat, we talked about how Covid changed everything, and how the dream of retirement became more elusive for our friends, family, and even our own employees.

Ken shared that he really believed our restaurants are good for our communities and neighbors.

Pizza brings people together…families, friends and neighbors connect with each other when they dine at our restaurants. We wanted to make sure we did everything we could to preserve and protect those connections happening in our restaurants for many decades in the future.

Labor challenges, inflationary pressures, and the wage gap also influenced our family's decision.

We knew that if we were going to protect Spinato's legacy, we needed to make sure the tenure of our people could grow. We want to find ways to retain our top talent, attract new talent and then reward their hard work and outcomes.

Most importantly, we liked that an ESOP is true ownership.

Championing Spinato's Success

Spinato's ESOP announcement coincides with National Employee Ownership Month, and our family hopes other businesses may consider learning about the benefits of ESOPs.

An ESOP provides ownership, but more importantly it's about entrusting that team members will care for the company. Many of our team members are already acting as owners in the mindful way they provide memorable experiences to our guests, through delicious food and exceptional guest service. Our family felt that it is the right thing to do to reward them with shares of company ownership. Now they have a way to be rewarded for their commitment, positive outcomes and connections they work so hard to create.

More than anything, our Spinato family is grateful. We look at our success not because of what we have done but because of what others have done with us and for us.

So many people believe in what we're doing, and from a heart standpoint, we are grateful that we could utilize an ESOP to reward our hard-working, amazing employees, protect the Spinato's legacy, and look to future growth in the years to come.

~The Spinato Family