http://www.towerhobbies.com/thistory.html
Though I don't think this tells the whole story relative to Hobbico itself.
Clint Atkins is apparently the guy accumulating all the other companies like Top Flite, Great Planes, Carl Goldberg, and Lanier.
http://www.greatplanes.com/aboutgp.html
"HOBBICO is the largest retail and wholesale distributor of radio-control hobby products in the world and one of the most progressive companies in the Champaign/Urbana area.</p>
Hobbico consists of 4 basic divisions: Tower Hobbies, Great Planes Model Distributors, Hobbico Product, and Hobbico Administration. Each division has a different focus and excellent job opportunities exist in each one. Hobbico employs more than 600 people in these different divisions."</p>