Tractor Supply Co., the largest rural lifestyle retailer in the U.S., announced Feb. 17 that 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 Kansas, Nebraska and Iowa.
“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 in a news release. “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.”
The Orscheln chain has been in the Orscheln family for more than 60 years. Company chairman and CEO Barry Orscheln said he's proud of their accomplishments in that time.
"My family, our Orscheln Farm and Home employees and I have been committed to serving the needs of rural communities across the Midwest,” he said. “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.”
As of late last year, the company operated 1,923 Tractor Supply stores in 49 states The acquisition of Orscheln Farm and Home, funded with cash on hand, will move forward with regulatory approval and certain closing conditions.