BRENTWOOD, Tenn. – Tractor Supply Co. entered into an agreement to buy Orscheln Farm and Home for nearly $300 million.
Orscheln has stores in Richmond and Excelsior Springs. Managers at both stores referred questioned – such as whether there will be any effect on employees and the stores’ futures – to the Orscheln office, which in turn referred questions to Tractor Supply Co.’s senior vice president of public relations, Mary Winn Pilkington.
“Regretfully, we cannot share anything else,” she stated Thursday.
Orscheln Farm and Home operates 167 stores in 11 states, including Missouri and Kansas.
The acquisition is conditioned on receipt of regulatory approval and completion of customary closing conditions.
“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,” Hal Lawton, Tractor Supply’s president and chief executive officer, said. “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.”
Orscheln, the chairman and CEO of Orscheln Farm and Home, echoed Lawton’s sentiment.
“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,” Orscheln said.
Tractor Supply intends to fund the acquisition through existing cash on hand.
Tractor Supply Co. bills itself as a “one-stop shop for recreational farmers, ranchers and all those who enjoy living the rural lifestyle, for more than 80 years.”
Tractor Supply offers products to care for home, land, pets and animals with a focus on product localization, exclusive brands and customer service.
With more than 42,000 employees, Tractor Supply leverages physical store assets with digital capabilities to offer customers products they need anytime, anywhere and any way they choose.
On Dec. 26, Tractor Supply operated 1,923 stores in 49 states and a website at www.TractorSupply.com.
Tractor Supply also owns and operates 182 Petsense stores in 25 states. Petsense is a small-box pet specialty supply retailer focused on meeting the needs of pet owners, primarily in small and mid-size communities, and offering pet products and services.