MOBERLY, Mo. (KMIZ)
Tractor Supply Company and announced Wednesday morning it has acquired Orscheln Farm and Home.
A release from the national retailer said the deal was worth $297 million dollars.
Headquartered in Moberly, Orscheln Farm and Home operates 167 stores across the Midwest including more than a dozen in Mid-Missouri.
In a statement to employees, Orscheln Farm and Home board chairman William Orscheln said it made sense for the companies to merge.
"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 the release.
Tractor Supply operates more than 1,900 storefronts -- including several in Mid-Missouri -- across 49 states. The company's website says it is "the largest rural lifestyle retailer in the US."
Goldman Sachs and Co., as well as, Fifth Third Securities are acting as financial advisors for the companies, according to the releases.