We're about to close on a plumbing business where the owner has been there 40 years and his name is on the truck (so central to the business's identity).

Am looking for advice on how to announce the sale to his employees (there are ~40). Our current plan is to call an All Hands where we announce it together and then arrange for 1:1s with everyone over the next few days so they can sign their new employment agreement (everyone is getting a retention bonus, some people are getting raises - no one's comp is going down).

Any good resources/articles you'd recommend for handling business transition announcements/messaging? Any watch outs or things to avoid?