Houchens Industries

History

The company traces its beginnings to 1917, when founder Ervin Houchens at age 19 opened his first store, BG Wholesale, 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. The current CEO, Jimmie Gipson, started with the company in 1965 as an accountant.

In 2004, Houchens acquired Food Giant, which operated mainly in the Southeast. Food Giant had been run by Sikeston businessman Kenneth Storey (1931–2026) who owned many grocery stores with various names such as Piggly Wiggly, Big Star, Sureway, Dixie Dandy, Save-A-Lot, Storey's Marketplace, Storey's Food Giant, and various businesses not related to the grocery business until he sold the stores to his employees in the year 2000. Later that year, Houchens bought Scotty's Contracting & Stone, a large paving contractor, aggregates producer and construction company based in Bowling Green.

In 2007, the company sold its Commonwealth Brands subsidiary, the fourth-largest cigarette producer in the US, to the British company Imperial Tobacco Group PLC for $1.9 billion. It had acquired the company from its founder Brad Kelley in 2001; it was the first time that Houchens had sold one of its acquisitions.

Diversification continued in 2007 when Houchens announced that it would acquire Hilliard Lyons, a full-service stock broker and investment firm based in Louisville, from PNC Financial Services. The sale was completed in March 2008.

Many activities occurred in 2008 for Houchens. In January 2008, Houchens announced that it would acquire 14 convenience stores which sell Shell Oil products from Bowling Green businessman Jerry Browning. The stores are located in Bowling Green and surrounding towns. In April 2008, Buehler Foods of Jasper, Indiana, signed a letter of intent to sell the company to Houchens. That July, Houchens acquired juice maker Tampico Beverages.