Fri, Nov 21 2008
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Published September 17, 2008 11:00 am - Houchens purchases juice-maker Tampico Walgreens plans to buy drugstore chain LOCAL BUSINESS BRIEFS Special reports Special to the Daily Times Houchens purchases juice-maker Tampico
Houchens Industries, based in Bowling Green, has purchased juice-maker Tampico. Houchens president Spencer Coates said in news release: “Tampico is a significant acquisition which will continue to diversify and strengthen the Houchens portfolio and further our overall longterm commitment to our employees through our focus on profitable growth.” This year, Houchens has also closed deals on financial firm Hilliard Lyons, Cohen’s Fashion Optical and grocery store Buehler Foods. Houchens is owned by its 15,000 employees through an employee stock option plan. Houchens’ holdings include retail grocery, convenience stores, restaurants, insurance, financial services, construction, manufacturing and optical stores. Tampico, founded in 1989, is sold in more than 36 countries. It produces refrigerated juice drinks and is a supplier of juice drink concentrates. Tampico will keep its name and remain based in Chicago. Walgreens plans to buy drugstore chain Walgreens, a pharmacy with 6,356 stores in 49 states plans to aquire Longs Drug Stores Corp., a retail drugstore in California, Nevada, Arizona and Hawaii. Walgreens would pay $3 billion for the chain and would include Long’s prescription benefits management subsidiary, RxAmerican, LLC. Walgreens’ deal will exceed the offer made by CVS Caremark to purchase Longs at $2.9 billion. In a statement, Walgreens chairman and CEO Jeffery A. Rein said: “We believe the combination of Walgreens and Longs is a highly compelling transaction that is superior to the pending transaction with CVS/Caremark, accelerates Walgreens’ expansion into high-growth markets and delievers meaningful cost synergies.” 
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