Tractor Supply Company (TSC) is acquiring a Missouri-based rural retailer with multiple stores in Arkansas in a $297 million all-cash deal.
TSC has agreed to buy Orscheln Farm and Home, which is based in Moberly, Mo.
In total, the company operates 167 stores in 11 states, including Arkansas. The other states Orscheln operates in include Illinois, Indiana, Iowa, Kansas, Kentucky, Missouri, Nebraska, Ohio, Oklahoma and Texas.
Orscheln operates six locations in Arkansas. The stores are located in Jonesboro, Mountain Home, Paragould, Pocahontas, Springdale and Trumann.
“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. 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. 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,” Tractor Supply president and CEO Hal Lawton said in a statement.
This acquisition will boost the number of stores that Tractor Supply operates to more than 2,200 across its owned companies. As of December 26, 2020, the company had 1,923 TSC stores in 49 states.
In addition, TSC owns and operates Petsense, a pet supply retailer, and has 182 stores in 25 states.
A closing date for the transaction was not disclosed, but the acquisition is subject to regulatory approval and a “satisfactory completion of customary closing conditions.” Goldman Sachs & Co. served as financial advisor and Bass, Berry & Sims PLC served as legal advisor for Tractor Supply, while Stinson LLP and Fifth Third Securities served as legal advisor and financial advisor, respectively, for Orscheln.
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Image courtesy of Orscheln Farm and Home