BOWLING GREEN, KY – Houchens Industries has acquired Feeders Pet Supply.
FSP, based in Louisville, KY, is an omnichannel pet specialty retailer that operates under the names of Feeders Pet Supply and Chow Hound Pet Supplies. The company sells pet food, supplies and services through its emerging e-commerce platform in addition to its 58 brick-and-mortar locations across Michigan, Indiana, Ohio, Kentucky, Tennessee and North Carolina.
Financial terms of the deal were not disclosed.
FSP was founded in 1959 and its growth accelerated in 2016 when PNC Riverarch, based in Pittsburgh, acquired the majority ownership. Now, 100% of the company is being sold to Houchens “as a pathway for … employees to share in not only the ownership and success of FSP, but the ownership and success of Houchens,” according to a press release.
Brannon Dixon, CEO of FSP, said, “We are very proud of our heritage and accomplishments to date and look forward to continuing that growth and success under the Houchens umbrella. We are aligned on the strategic initiatives to expand and enhance not only our retail footprint but our service offerings to customers. Houchens provides us long-term capital that is critical to achieving our future growth plans. Our senior leadership team is excited to partner with a company that is retail rich in talent and experience.”
Dion Houchins, CEO of Houchens, said, “We are excited to invest in the growing pet retail segment. This strategic investment met every criteria on our investment philosophy checklist. Partnering with a strong management team only enhanced our interest. Brannon Dixon and the FSP senior leadership team have like-minded growth plans and embody an employee and customer centric approach. Having its headquarters in Louisville supports our growth strategy in our home state of Kentucky. This investment further diversifies our ESOP which is critical to our sustained success.”