Bruce Hodgdon started in 1947 by buying 50,000 pounds of surplus IMR 4895. He sold powder as a sideline, since his fulltime job was as a salesman in another industry. He was an avid hunter and reloader, and had read about the many tons of gunpowder that had been dumped in the ocean after World War I, so he thought there should be a better use for the powder left over from the Second World War. He borrowed on his life insurance policy to make his first purchase.
In 1952, he quit his job as a salesman and went fulltime selling powder, along with his wife and sons. The surplus powders ran out in the mid 1960's, so he looked around for vendors who could make powders to his specifications. All their powders are made by vendors, and Hodgdon is the distributor.
Bruce is also largely responsible for being able to order powders to be delivered to a residence. He lobbied Congress on our (and his) behalf and got it made legal to ship powders to reloaders.
They acquired the IMR brand in 2001 and the Winchester brand in 2004. The Winchester powders are made by St. Marks Powder Co., a division of General Dynamics, and the only producer of ball powders in the U.S. The other powders are made in Canada and Australia for the most part, while some powders are made in Europe and Israel, as well as South Africa.
If you'd really like more history of Hodgdon, here's a link to an interview with Bruce's grandson, Chris Hodgdon:
I've talked to Chris Hodgdon at the SHOT Show and he's very, very knowledgeable about powders, and an avid reloader. He's also a nice guy.
Hope this helps.
Fred