Houchens Industries
Company type | Grocery Store, Insurance |
---|---|
Founded | 1917 |
Founder | Ervin Houchens |
Headquarters | Bowling Green, Kentucky, United States |
Key people | Dion Houchins, CEO Brandon Shirley, President Patrick Coleman, CFO Jimmy Nichols, COO Ervin Houchens, founder |
Number of employees | 15,000+ (2021) |
Website | houchens.com |
Houchens Industries is an American
History
The company traces its beginnings to 1917, when founder Ervin Houchens opened his first store ("BG Wholesale") at the age of 19 in a shed in Lucas, Kentucky. This shed, along with other historical structures, has been well preserved and is open to the public. He sold the company in 1983.[2] The current CEO, Jimmie Gipson, started with the company in 1965, as an accountant.[2]
In 2004, Houchens acquired Food Giant, which operated mainly in the Midwest.[3] Later that year, Houchens bought Scotty's Contracting & Stone, a large paving contractor, aggregates producer and construction company based in Bowling Green.[4] [5]
In 2007, the company sold its Commonwealth Brands subsidiary, the fourth-largest cigarette producer in the United States, to the British company
Diversification continued in 2007 when Houchens announced that it would acquire
In January 2008, Houchens announced that it would acquire 14 convenience stores which sell
In April 2008, Buehler Foods of Jasper, Indiana, signed a letter of intent to sell the company to Houchens.[9]
In July 2008, Houchens acquired juice maker Tampico Beverages.[10]
In January 2010, White's Fresh Foods, in the Tri-Cities, Tennessee area sold their local grocery chain to Houchens. Those stores currently operate as Price Less Foods.[11]
In January 2020, during a board of directors meeting, Jimmie Gipson, after nearly 55 years of service with the company, announced his retirement effective March 31, 2020. The board of directors has elected Executive Vice President Dion Houchins to succeed Jimmie as the chief executive officer and chairman of the board. [12]
In April 2021, Houchens Industries announced the acquisition of Lee Masonry Product LLC. Lee Masonry Products, Inc. was established by Ray Lee in Frankfort, Kentucky in 1963 and became a 100% employee-owned company in 2006. Lee Masonry is a manufacturer of concrete block and specialty concrete products and a distributor of clay masonry products for commercial and residential use. Through both acquisition and the addition of new production facilities, Lee Masonry has grown to operate 19 facilities in two states with over 400 employees.[13]
Other
- The company has been completely owned by its employee stock ownership plan (ESOP) since 1988. Employees select members of the board of directors and vote on the sale of any substantial assets.[2]
- Houchens Industries sponsors the annual E.A. Diddle Arena.
- Houchens also contributes heavily to the community, most notably Houchens Industries-L. T. Smith Stadiumin Bowling Green.
References
- ^ "Houchens Industries". Forbes.
- ^ a b c d Bruce Schreiner, "Houchens expanding at a rapid pace: Company has evolved since Kentucky start", Associated Press, December 24, 2007
- ^ "HOUCHENS SET TO ACQUIRE FOOD GIANT". Supermarket News. 2004-04-26. Retrieved 2020-04-21.
- ^ Battah, Raed (4 January 2005). "Houchens closes deal for Scotty's". Bowling Green Daily News. Retrieved 22 January 2023.
- ^ "Scotty's: Continued Growth and Employee-Ownership". Scotty's Contracting & Stone. Retrieved 22 January 2023.
- The Courier-Journal. 2007-11-16.
- The Courier-Journal. 2008-03-31.
- ^ Catawayo, Ameerah (2008-01-29). "Houchens set to buy Browning". Park City Daily News.
- ^ "Local grocery chain sold". 14 WFIE. 2008-04-24.
- ^ Houchens Acquires Tampico Beverages
- ^ Jackson, George (2009-01-19). "Houchens Industries Acquires White's Fresh Foods". Tricities.com. Archived from the original on 2012-09-13.
- ^ "After 55 years with company, Gipson to retire as Houchens CEO". BG Daily News.
- ^ "Houchens Acquires Lee Masonry". Houchens Industries. Archived from the original on 2021-10-28. Retrieved 2021-10-19.