| Company type | Private |
|---|---|
| Industry | Grocery store,insurance |
| Founded | 1917; 109 years ago (1917) |
| Founder | Ervin Houchens |
| Headquarters | Bowling Green, Kentucky, United States |
Key people | Dion Houchins (CEO) Brandon Shirley (president) Patrick Coleman (CFO) Jimmy Nichols (COO) |
Number of employees | 15,000+ (2021) |
| Website | www |
Houchens Industries, Inc. is an Americanemployee-owned company, in business since 1917 when it began as a smallgrocery operated by founder Ervin Houchens in ruralBarren County, Kentucky. The company is headquartered inBowling Green, Kentucky. The company currently operates more than 325 retail grocery, convenience, and neighborhood market stores across 14 states, through their Houchens Food Group subsidiary. Complemented by a strong foundation of diverse companies and over 15,000 employees corporate-wide, Houchens Industries is listed by Forbes as one of the largest 100% employee-owned companies in the world.[1]
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 inLucas, 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 companyImperial Tobacco Group PLC for $1.9 billion. It had acquired the company from its founderBrad Kelley in 2001; it was the first time that Houchens had sold one of its acquisitions.[2]
Diversification continued in 2007 when Houchens announced that it would acquireHilliard Lyons, a full-servicestock broker and investment firm based inLouisville, fromPNC Financial Services.[6] The sale was completed in March 2008.[7]
In January 2008, Houchens announced that it would acquire 14 convenience stores which sellShell Oil products from Bowling Green businessman Jerry Browning. The stores are located in Bowling Green and surrounding towns.[8]
In April 2008,Buehler Foods ofJasper, Indiana, signed a letter of intent to sell the company to Houchens.[9]
In July 2008, Houchens acquired juice makerTampico Beverages.[10]
In January 2010, White's Fresh Foods, in theTri-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]
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South Warren High School has a Bowling Green address but is south of the city limits. | ||