Astor Wines and Spirits in NYC is a great example on a somewhat smaller scale. Founding family sold the business to the employees (about 75 of them) under an Employee Stock Ownership Plan.

Publix and Arthur Flour are the two that come to mind immediately but IIRC several regional grocers went that way in the 90s and oughts. Hostess almost did before the Bimbo offer came through. Not sure if there's something about foods that makes it work better there.

Speaking of failed San Francisco institutions. Hostess bought Parisian bakery shortly before going under. In terms of "legacy" sourdough bakeries I think we're down to Boudin and Bordenave at this point.

Replogle Globes followed this exact trajectory. Four employees bought the company when the conglomerate was planning to liquidate the company.

This pulp mill in BC, Canada was purchased by a mix of employees and other investors in 2008. I'm not sure the initial mix, but the website says 25% employee owned currently:

- http://www.harmacpacific.com/employees.php

- https://forestryfriendly.ca/harmac-pacific-pulp-mill-local-s...