Andersen and Marvin have a lot in common. They both are nationally known window and door manufacturers. They’re family-owned and based in Minnesota. And they have both kept the tradition of announcing profit-sharing amounts right before the holidays.
Minnesota window makers Andersen, Marvin continue holiday bonus tradition, doling out $67.8M this year
The family-owned companies told employees this week how much extra would be in their year-end checks.
The Minnesota Star Tribune
December 20, 2024 at 1:32PM
This week, eligible employees at Bayport-based Andersen found out they will split $50.8 million of the company’s profits. Marvin told the staff Thursday employees will share $17 million.
Both companies weathered the impacts of the pandemic and the slowdown of newly built homes. Profit-sharing at both companies was down from the record levels awarded in 2023 — $55.4 million at Andersen and $20 million at Marvin.
“Amid ongoing challenges in the housing market, Andersen continued to grow in 2024,” said Chris Galvin, chief executive of Andersen. “Our people are the cornerstone of our success, and this profit-sharing is a testament to their hard work and unwavering commitment.”
This year’s commitment from Andersen means eligible employees will receive an average of $3,923. The company, which had suffered from a worker shortage and pledged to hire 1,000 workers over three years in 2021, now has 13,000 employees across North America and Europe, including about 6,000 in Minnesota.
Profit-sharing awards at Marvin range from $1,800 to $5,400 for its 7,460 eligible employees. Awards at Marvin are based on hours worked during the year and length of service with the company. About 15% of the employees at Marvin have worked at the company for more than 20 years.
“I’m proud to celebrate our achievements and the moments of unexpected inspiration we found along the way this year,” CEO Paul Marvin said.
In his address to employees at the company’s annual meeting, Marvin called out company milestones in 2024 including a major renovation of the company’s over 75,000-foot headquarters in Warroad; the opening of a new distribution center in Reno, Nev.; a groundbreaking for a new plant in Kansas City, Kan.; and the introduction of Marvin Connected Home, a division featuring windows, doors and skylights that can be operated by remote control.
Marvin has been sharing profits with its employees over the past 67 years, and the $17 million shared this year pushed the total awards share over that time to $410 million.
When announcing the profit-sharing checks, Galvin also said Andersen’s foundation donated more than $5.3 million in cash and products to various nonprofits in 2024.
The foundation donated to organizations where Andersen workers live, work or volunteer. Recipients included the 2024 Habitat for Humanity Jimmy and Rosalynn Carter Work Project. The Carter Work Project, which this year was in the old Hillcrest site in St. Paul, is a significant annual initiative aimed at building and renovating homes for families in need.
“Our donations support a wide range of initiatives,” said Eliza Chlebeck, vice president of the Andersen Corporate Foundation. “At Andersen, we believe in the power of giving back to the communities where we live and work.”
These include matching grants on behalf of employees. Chlebeck said employees volunteered more than 20,000 hours through the program, participating in building affordable housing efforts in Minnesota, Iowa and Texas.
Andersen Corp. has over $4 billion in annual sales. It has Minnesota facilities in Bayport, Oak Park Heights, Cottage Grove and North Branch.
The Eden Prairie - based company saw sales drop 18% from a year ago but anticipates a market rebound in the second half of its fiscal year.
