MOBERLY- Orscheln Farm and Home, a retail chain of farm and ranch supply stores headquartered in Moberly, has been acquired by Tractor Supply Company.
The two companies signed an agreement to merge, which was announced Wednesday.
According to Columbia Missourian, the acquisition is reported to be an all-cash transaction of approximately $297 million.
William (Barry) Orscheln, Orscheln Farm and Home Board Chairman, said in a release that Tractor Supply Company is an "excellent fit" for the company.
"Tractor Supply and Orscheln Farm and Home have tremendous respect for one another. We share similar culture and values. Bringing the companies together makes good business sense, as each of our companies and employees will bring unique and complementary experience, knowledge, and skills. The resulting synergies will enhance the total shopping experience for our customers and the communities in which we do business," Orscheln said.
Orscheln Farm and Home, which has been around for 60 years, started as one small store in Sedalia. It now has 167 stores in 11 states, including Missouri, Arkansas, Illinois, Indiana, Iowa, Kansas, Kentucky, Nebraska, Oklahoma, Texas and Ohio.
Tractor Supply Company is the largest, rural lifestyle retain store chain in the United States, according to a news release. Founded in Minot, North Dakota, in 1938, it is now based in Brentwood, Tennessee, near Nashville. The company operates more than 1,900 stores in 49 states.