Varsity Brands, a premier platform for team sports and spirit solutions, recently announced the launch of a new broad-based employee ownership program . Varsity Brands joined the KKR portfolio after being acquired in August 2024.

Varsity Brands introduced the ownership program at a launch event on November 8, held at its Dallas headquarters and simulcast across nine facilities across the United States and the Dominican Republic. In the video below, you can see how Varsity’s 7,200+ employees reacted to the news and what it means to them to become owners in the business.

Employees celebrated the start of this program with presentations on employee ownership and received certificates and welcome letters at their homes to mark their new roles as co-owners.

KKR has supported the implementation of broad-based employee ownership programs throughout its portfolio based on the belief that this type of broad-based engagement and alignment can drive results in business while driving greater financial inclusion. Since 2011, more than 55 KKR portfolio companies have awarded billions of dollars of total equity value to over 120,000 non-senior management employees.

KKR is also a founding partner of the cross-sector initiative Ownership Works , a nonprofit on a mission to increase prosperity by developing and implementing broad-based employee ownership programs.