OEM foodservice, HVAC and residential appliance parts distributor Parts Town Unlimited — the parent company of Parts Town — launched its “Town Shares” employee ownership program, aimed at giving team members the opportunity to participate in the company’s long-term success.

Parts Town Unlimited said the Town Shares program is designed to offer a valuable wealth-building opportunity and that participation is free for employees and is offered alongside their regular salary and benefits.

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“We believe the magic and success of Parts Town Unlimited is created through our outstanding people who are passionate about taking care of our customers, living our core values, and going above and beyond to deliver extraordinary results,” Parts Town Unlimited CEO Steve Snower said in a March 27 news release. “We believe that we have a responsibility to provide team members the ability to meaningfully benefit financially from the growth that they drive within the organization. It’s simply the right thing to do, both for our people and for our company. We are very proud to launch our Town Shares program. In my 21 years of leading Parts Town Unlimited, this is the most exciting and fulfilling program we have launched because it allows ALL team members to share in the value they help to create.”

Find more info about the Town Shares program here.

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On Feb. 26, Parts Town Unlimited announced its annual sales for 2024, which showed the company achieved sales of $2.5 billion, with all four of its divisions setting record sales figures for its full-year.

In other recent news, the company announced the opening of a 427,000-square-foot global fulfillment center in Litchfield Park, AZ on Dec. 12.