| Moberly Monitor-Index
A Moberly-based business for 60 years, Orscheln Farm & Home LLC, has been sold to Tractor Supply Co. was announced Wednesday by William “Barry” Orscheln, Orscheln Farm & Home Chairman of the Board.
According to the financial news and financial literacy website named TheStreet.com, the Feb. 16 acquisition is reported to be an all-cash transaction of nearly $297 million.
Barry Orscheln told employees that he believes TSC is an excellent fit for the retail 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,” Orscheln said in a press release statement. “The resulting synergies will enhance the total shopping experience for our customers and the communities in which we do business.”
Founded in 1960 when it first opened a store in Sedalia, today’s Orscheln retail stores sells a large assortment of traditional farm supplies, sporting goods, clothing apparel, tools and a variety of other merchandise.
Orscheln Farm & Home employs nearly 3,000 persons and operates 167 stores located in 11 states: Missouri, Kansas, Nebraska, Iowa, Indiana, Oklahoma, Arkansas, Texas, Kentucky, Illinois and Ohio.
In addition to its Moberly store located at the intersection of N. Morley and Highway 24, the company ‘s home business office and its Orscheln Farm and Home Distribution Center is here. A new retail store building opened in Salisbury last fall and other nearby store locations include Macon and Columbia.
Meanwhile, Tractor Supply Co. was founded in 1938 and makes its home in Brentwood, Tenn. There are more than 1,900 stores in 49 states according to its website. The company also owns 182 pet supply stores in 25 states named Petsense with some having dog grooming services.
“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,” said Hal Lawton, Tractor Supply’s President and Chief Executive Officer, in a press release statement.
“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,” stated Lawton. “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 Farm & Home had been one of 10 companies that operate under the business umbrella of Orscheln Industries, a family-owned business dating back to 1917. The other companies of the family business were not affected by the recent transaction.
Barry Orscheln remains CEO of Orscheln Industries and his brother Bob is president of Orscheln Properties.