Bowling Green business conglomerate Houchens Industries is continuing the diversification that has made it one of the largest wholly employee-owned companies in the United States.

Houchens management announced this week that the company has acquired Louisville-based Feeders Pet Supply.

FPS is a rapidly growing pet specialty retailer that operates under the names of Feeders Pet Supply and Chow Hound Pet Supplies across six states. The company sells pet food, supplies and services through its emerging e-commerce platform in addition to its 58 brick-and-mortar locations spread across Michigan, Indiana, Ohio, Kentucky, Tennessee and North Carolina.

FPS has a retail location on the U.S. 31-W Bypass in Bowling Green.

According to a news release, the FPS customer loyalty program is approaching 1 million members who can set up monthly subscriptions for their pet food delivery in addition to visiting the retail locations.

FPS has experienced steady growth since its founding in 1959. That growth accelerated in 2016 when Pennsylvania-based PNC Riverarch acquired the majority ownership.

Now, FPS has entered into an agreement to sell 100% of the company to Houchens as a pathway for their employees to share in not only the ownership of FPS but the ownership and growth of Houchens.

Brannon Dixon, CEO of FPS, said being part of Houchens fits with the company’s growth strategy.

“We are aligned on the strategic initiatives to expand and enhance not only our retail footprint but our service offerings to customers,” Dixon said in a news release.

“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 rich in talent and experience.”

Dion Houchins, CEO at Houchens Industries, said this latest acquisition is a good fit for the company that was established in 1917 as Houchens Foods.

“We are excited to invest in the growing pet retail segment,” Houchins said. “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 FPS 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.”

Houchens Industries owns more than 25 companies in the retail, industrial, consumer products, insurance, and construction industries. Houchens and its affiliates generate annual revenue of more than $3.5 billion. Houchens now has more than 19,000 ESOP participants.

Its holdings include such companies as Van Meter Insurance, Scotty’s Contracting & Stone, Stewart Richey Service Group, Crossroads IGA and Sheldon’s Express Pharmacy.