Tractor Provide acquires $ 297 million value of Orscheln in Omaha State and Regional Information
The nation’s largest rural lifestyle retailer announced Wednesday that it is acquiring Orscheln Farm and Home in a cash transaction valued at approximately $ 297 million.
With the purchase, Tractor Supply Co. has acquired a company that operates 167 stores in 11 states in the Midwest, including Nebraska. Orscheln has locations in Lincoln, Crete and Beatrice as well as in seven other cities in Nebraska.
Tractor Supply Co. already operates more than 1,900 stores in 49 states. It has 18 locations in Nebraska, including two stores in Lincoln.
“This is an exciting step for Tractor Supply as we expand our presence in the Midwest with the high quality assets of Orscheln Farm and Home,” said Hal Lawton, President and CEO of Tractor Supply, in a written statement.
Barry Orscheln, Chairman and CEO of Orscheln Farm and Home, founded his company 60 years ago and is confident that Tractor Supply will continue his life’s work.
“I am very proud of everything we have achieved in (60 years),” Orscheln said in a written statement. “I am confident that our Tractor Supply branches are well positioned to continue the Orscheln tradition of serving our customers and communities for the next phase of growth.”
The prerequisite for the acquisition is the receipt of the official approval and the satisfactory conclusion of the usual closing conditions.