Grand Central Bakery embraces new ownership structure driven by purpose, not profits

May 29, 2022 at 9:00 am Updated May 31, 2022 at 9:29 pm

By Kristine de Leon

oregonlive.com

A Pacific Northwest-based bakery chain will no longer be privately owned by family and longtime employees.

Instead, Grand Central Bakery announced that it will create a “perpetual purpose trust,” a new type of corporate structure that confers shares in a company not to individual owners but to a mission. Under this structure, company officials said, the bakery will aim to work toward upholding principles, not profit.