IARN — Tractor Supply Company, the largest rural lifestyle retailer in the United States, has announced it has entered into an agreement to acquire Orscheln Farm and Home in an all-cash transaction for approximately $297 million.
Orscheln Farm and Home operates 167 stores in 11 states including Iowa, Missouri, Kansas, Nebraska, Indiana, Oklahoma, Arkansas, Texas, Kentucky, Illinois, and Ohio. There are 14 store locations in Iowa. The acquisition is conditioned on the receipt of regulatory approval and satisfactory completion of customary closing conditions.
Barry Orscheln, Chairman and CEO of Orscheln Farm and Home, commented, “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. 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.”
For Tractor Supply, Goldman Sachs & Co. LLC is acting as financial advisor, and Bass, Berry & Sims PLC is acting as legal advisor. Fifth Third Securities is acting as financial advisor to Orscheln Farm and Home, while Stinson LLP is acting as legal advisor.
Story courtesy of the Iowa Agribusiness Radio Network
Image from Tractor Supply
