Jimmie Gipson, Chairman, and Spencer Coates, President, of Houchens Industries, Inc. announced today the closing of the acquisition of Tampico Beverages, Inc., headquartered in Chicago, Illinois. Houchens Industries, Inc. is a diversified conglomerate wholly owned by its over 15,000 employees and has its corporate offices in Bowling Green, KY. Houchens has businesses in retail grocery and convenience stores, quick-to-service restaurants, insurance, stock brokerage and financial services, franchising of optical stores, construction, fence materials manufacturing and distribution, crushed stone aggregates and asphalt paving, recycling, tanning supply distribution, manufacturing, software and website development, and property management. Houchens is listed as one of the largest 100% employee owned companies in the United States.
Tampico Beverages, Inc., founded in 1989 in Chicago Illinois, is a global brand sold in over 36 countries worldwide. With substantial brand awareness in the United States and throughout Latin America, Tampico maintains a leadership position as the #1 refrigerated juice drink in groceries across America and one of the leading suppliers of value-added juice drink concentrates in the world.
In announcing the closing of the transaction, Mr. Gipson stated “Tampico Beverages will be a great benefit to our company and its employee owners.” Mr. Coates added, “Tampico is a significant acquisition which will continue to diversify and strengthen the Houchens portfolio and further our overall long-term commitment to our employees through our focus on profitable growth.” Mr. Coates further indicated, “We are thrilled to have such a superb management team and employee group joining Houchens.”
Houchens emphasized that Tampico Beverages will retain its name, employees and management team and that the company will remain headquartered in Chicago, Illinois.
Scott Miller, Chief Executive Officer of Tampico Beverages, stated “the Houchens acquisition of Tampico Beverages creates a very exciting opportunity for Tampico and our employees. It also aligns with our strategic approach to global expansion as well as our continued focus on domestic business. Tampico looks forward to joining the Houchens family as we continue to develop great tasting, highly sought after Tampico product. Our goal is to continue providing innovative beverages to meet the needs of an ever-changing consumer around the world.”‘
Deutsche Bank Securities Inc acted as financial advisor to Houchens Industries Inc in this transaction.