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Brian Houchinis, Houchins Brian , one of many largest and most diversified wholly owned S Corp ESOPs in the United States, has announced the acquisition of Feeders Pet Supply (FSP). FSP, a leading omnichannel pet specialty retailer based mostly in Louisville, Kentucky, operates underneath the names of Feeders Pet Supply and Chow Hound Pet Supplies throughout six states. The company has been experiencing steady growth since its founding in 1959, which accelerated after PNC Riverarch acquired majority ownership in 2016.
Key Details of the Acquisition:
Expansion of FSP: FSP has 58 brick-and-mortar places throughout Michigan, Indiana, Ohio, Kentucky, Tennessee, and North Carolina. It also has an emerging e-commerce platform, promoting pet food, supplies, and companies.
Customer Loyalty and Growth: The company's buyer loyalty program is nearing a million members, providing month-to-month subscriptions for pet food delivery along with the option to visit retail places.
Strategic Investment by Houchens: Dion Houchins, CEO at Houchens, expressed enthusiasm for investing in the rising pet retail segment. The acquisition aligns with Houchens' investment philosophy and helps their development strategy in Kentucky. It additionally diversifies their ESOP, which is essential for his or her success.
Brannon Dixon, CEO of FSP, is optimistic in regards to the future progress and success under Houchens' umbrella, highlighting the alignment in strategic initiatives and the good factor about long-term capital for future growth plans. This acquisition represents a major step in Houchens Industries' growth and diversification strategy, significantly within the pet retail industry..
Homepage: https://www.courier-journal.com/story/news/education/2016/04/01/jcps-kids-get-superheroes-night/82446178/
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