PFI Western Store has changed ownership.
Owner Randy Little announced in a public Facebook post and news release yesterday that he entered a deal with Cavender’s, a Texas-based retail chain of Western apparel operated by a family of the same name. The acquisition for undisclosed terms closed yesterday.
“For over 46 years, we have been able to grow PFI through the help of a very generous and caring community," Little said in the release, noting, "Now is the time to retire to let the company continue to grow through the Cavender’s organization.
“We have known the Cavenders for a long time. Our great associates are not going anywhere."
The post indicates the existing leadership team will remain as managers of the store.
PFI Western Store, a prominent fixture along U.S. Highway 65 at 2816 S. Ingram Mill Road, becomes part of a chain with 91 stores in Texas and a dozen other states. This year is the 56th anniversary of Cavender’s, which sells items such as cowboy boots and jeans.
"We are proud to be associated with Randy Little, and the Little family, who has such a long and distinguished career within the Western wear industry," said co-owner Mike Cavender, in the release.
Little became sole owner of PFI in the 1980s after buying out co-founder Larry Burks' share of the company, according to Springfield Business Journal archives. The venture started in 1975 as Preferred Farmers Inc., when it sold livestock feed in northwest Springfield.
The Bureau of Labor Statistics reported in May the all-items inflation index surged 8.6% over the past year, the highest increase since 1981.