Tractor Supply Company announced Wednesday that it has entered an agreement to acquire Orscheln Farm and Home in an all-cash transaction for approximately $297 million.
Tractor Supply, headquartered in Brentwood, Tennessee, offers products to care for home, land, pets and animals. It operates 1,923 stores in 49 states.
Orscheln Farm and Home, headquartered in Moberly, operates 167 stores located in Missouri, Kansas, Nebraska, Iowa, Indiana, Oklahoma, Arkansas, Texas, Kentucky, Illinois and Ohio.
Both companies operate stores in Jefferson City - Tractor Supply at 3714 Cody Drive and Orscheln Farm and Home at 2304 Missouri Blvd. The Orscheln store opened in its current location in 2018, relocating from a smaller store on South Ten Mile Drive.
The acquisition is pending regulatory approval and closing conditions, according to a Tractor Supply Company news release.
"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 in the news release.
The first Orscheln Farm and Home store opened in Sedalia in 1960, according to information on the company's website.
"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," Chairman and CEO Barry Orscheln said in the Tractor Supply news release. "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 is currently a member of the Missouri Conservation Commission and previously served on the Missouri Highways and Transportation Commission.