BRENTWOOD, Tenn. – Brentwood, Tenn.-based Tractor Supply Company Wednesday announced it entered into an agreement to acquire Orscheln Farm and Home in an all-cash transaction for approximately $297 million.
Tractor Supply operates 1,923 Tractor Supply stores in 49 states, and Moberly, Mo.-based Orscheln Farm and Home operates 167 stores located in 11 Midwestern states. Both chains have locations in Great Bend and the future of these has not been announced by either company.
The acquisition is conditioned on the receipt of regulatory approval and satisfactory completion of customary closing conditions. More details will be announced later.
“This is an exciting step for Tractor Supply as we expand our footprint in the Midwest with the high-quality assets of Orscheln Farm and Home,” said Hal Lawton, Tractor Supply’s president and chief executive officer. “We have always had great respect for Barry Orscheln and the team at Orscheln Farm and Home for the strong connection they have with customers in the communities they serve, along with their industry knowledge and capabilities.
“With our shared values and passion for the Out Here lifestyle, we are honored to welcome Orscheln Farm and Home to the Tractor Supply family,” Lawton said. “We look forward to bringing together our highly complementary cultures and teams to realize the long-term value and benefits that we expect this acquisition to deliver.”
“For more than 60 years, my family, our Orscheln Farm and Home employees and I have been committed to serving the needs of rural communities across the Midwest,” said Orscheln, chairman and CEO of Orscheln Farm and Home, “I am very proud of all that we have accomplished over this time. I am confident that with Tractor Supply our stores will be well-positioned to continue Orscheln’s tradition of taking care of our customers and communities for the next phase of growth.”