A long-term commitment
At Schaeffer Manufacturing Co. of St. Louis, rooted in the founding family's Christian values, an irrevocable trust has been established to ensure the business stays in family hands. The owners say this strategy -- which can be risky -- helps their company stand out from the competition.
By Margaret Steen
Schaeffer Manufacturing Co. has been in business for 172 years—since before homes had electric lights. Its family owners, having built a successful business that includes a particularly loyal sales team, have laid the foundation to keep it in family hands for the foreseeable future.The company, begun as a soap- and candle-making business, today sells petroleum and synthetic lubricants and ag...
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