Super QuikSuper Quik


[President] [ESOP]

President - Lynn Rice

Lynn Rice

Lynn Rice began his working career on the CSX railroad before even graduating from high school. He worked part time and then full time until going to work for then Ashland Petroleum Company in the early 1970`s. As Ashland was developing its Save Mart Convenient Store Division, Lynn transferred there and worked as a Supervisor until 1979.

A long time friend of the family, Jerald Witten, had recently sold his 100 store chain in Texas and was starting the Super Quik convenience stores in the Ashland area. Lynn left Ashland Petroleum and began a new career running the Super Quik stores. At that time there were three Super Quik stores and two Laundromats.

Since that time, the company has grown to 14 high volume convenience stores and 11 branded food service operations. In June of 2005 Mr. Witten sold the company to the employees creating a 100% Employee Stock Ownership Plan (ESOP) organization. Every full time employee that works 500 hours per year qualifies for a stock allocation that year.

As President of Super Quik Inc., Lynn has delivered remarkable changes for the employees. The level of execution and employee responsiveness has improved dramatically. The company is now able to implement and run programs that were not possible before and are now taking the company to higher levels of performance. Lynn Rice stated, “An ESOP cannot make a bad company good; rather they can make a good company better.”

As the company has continued to pay down debt incurred for the ESOP, it will be looking to acquire profitable retail or food service operations. There are some unique advantages an ESOP company can offer to a seller that other non-ESOP businesses cannot. With the right people in the right place, Super Quik will experience substantial growth in the years to come. The ESOP structure is functioning very well for Super Quik and the company has made a profit every year since its beginning 30 years ago. The company annually raises money to fund scholarship programs for local youth to advance their education.

Lynn graduated from the University of Kentucky and lives in Russell, Kentucky. He has one daughter Leann, who is married and has three daughters and lives in Danville, Kentucky. Lynn believes that everyone should perform service to their community in one way or another and has served on the KDMC Board and Ramey-Estep Children’s Home Board of Directors. He is presently serving on various committees at his church