BOWLING GREEN, Ky.—Houchens Industries, headquartered here, is entering the optical business through its Feb. 29 acquisition of Garden City, N.Y.-based Cohen’s Fashion Optical, which has 106 franchised Cohen’s stores in the Northeast and Florida, primarily in the greater New York/New Jersey area.

The Cohen family is retaining 30 company-owned optical locations, 14 Cohen’s Fashion Optical locations as well as 16 General Vision Services stores that will convert to the Cohen’s Fashion Optical format within the next six months, Robert Cohen, OD, Cohen’s president, told VMail.

Houchens is a highly diversified company that owns insurance, construction, manufacturing, sun tan products, distribution and other businesses, including the Piggy Wiggly grocery store chain. This is its first move into optical.

Terms of the transaction, reportedly a cash deal, were not revealed. Negotiations have been underway for about 75 days, according to Cohen.

Said Jimmie Gipson, chairman of Houchens, “The acquisition represents an opportunity to further diversify our business operations into a new area and territory.” Spencer Coates, the company’s president, said Houchens “is excited to be working with Cohen management and looks forward to them continuing to manage and grow the business.”

Robert Cohen commented, “This acquisition of our franchise division truly marks a milestone in the 80-year-plus history of our company. This new alliance with Houchens Industries greatly facilitates and expedites our strategic expansion into a national chain.” Cohen said he looks forward to expanding Cohen’s onto the national scene, working closely with his present management team.

The Cohen’s chain was launched in 1924 with a single optical store in New York City; it began franchising in 1979. Prior to the Houchens acquisition, Cohen’s Fashion Optical was owned by brothers Robert Cohen, OD, and Alan Cohen, OD. The Cohens acquired the chain in 1978.

The Cohen brothers and their families also own General Vision Services; Alan Cohen is president of GVS and Robert Cohen is its CEO.

Both Cohen brothers also serve on the board of directors of Sterling Optical parent Emerging Vision (OTC BB: ISEE.OB); Alan Cohen is chairman of that company’s board.