We represented Tractor Supply Company (Nasdaq: TSCO), the largest rural lifestyle retailer in the United States, in their agreement to acquire Orscheln Farm and Home, a family-owned farm and ranch retailer with 167 stores located across 11 states in the Midwest. The all-cash transaction for approximately $297 million, net of an estimated $23 million in future tax benefit, is subject to regulatory approvals.
This transaction expands Tractor Supply’s farm and field business, and boosts the company’s store footprint in Missouri, where it already has 56 locations. The deals also leads to more than doubling the number of stores for the company in Iowa and Nebraska, as well as expand presence in neighboring states.
The team was led by Bass, Berry & Sims attorney Kris Kemp and included corporate attorneys Jonathan Stanley, Andrew Hard, Bud Baker, and Dixon Babb; Tommy Gossett, Vince Lillegard, Turner Henderson, Marisa Rouse, and Michelle Chatfield (real estate); Emily Burrows and Caitlin Wilkinson (intellectual property); John Dawson (environmental); Curtis Fisher and Noah Black (employee benefits); Lymari Cromwell (labor and employment); and Mike Dashefsky and Lucas Smith (antitrust).
“We were thrilled for the opportunity to work with Tractor Supply as they expand their operations in the Midwest. With a partnership spanning over a decade, we are thankful for the trust they place in us and look forward to seeing their continued growth and success in the retail sector,” said Kris.
The transaction was highlighted in several media outlets, including:
- “Tractor Supply Company Announces Agreement to Acquire Orscheln Farm and Home, a Farm and Ranch Retailer with 167 Stores in the Midwest,” Tractor Supply Co. (February 17, 2021)
- “Tractor Supply, with New Acquisition, Continues to Outperform Retail Sector,” Forbes (February 17, 2021)
- “Tractor Supply Company Makes Cash Purchase of a Midwest Farm and Ranch Retailer,” Nashville Business Journal (February 17, 2021)
- “Tractor Supply Announces Agreement to Acquire Orscheln Farm and Home,” Rural Lifestyle Dealer (February 17, 2021)
Tractor Supply Company has been passionate about serving recreational farmers, ranchers and all those who enjoy living the rural lifestyle, for more than 80 years. Tractor Supply offers an extensive mix of products necessary to care for home, land, pets and animals with a focus on product localization, exclusive brands and legendary customer service that addresses the needs of the “Out Here” lifestyle.
Public and private companies of all sizes across a variety of industries turn to Bass, Berry & Sims for counsel on a wide range of corporate matters, including mergers, acquisitions and dispositions; capital markets transactions; executive compensation issues; corporate governance; and shareholder activism. We serve as corporate and securities counsel to more than 35 public companies and have counseled on 150 deals ranging in size from $20 million to more than $15 billion over the past two years. Our attorneys have been consistently recognized in leading industry outlets, including Chambers USA – ranked as a top corporate firm in Tennessee since 2003 – and most recently as a M&A Advisor Award recipient for – “Healthcare and Life Sciences Deal of the Year (Over $1B)” and Corporate/Strategic Deal of the Year (Over $1B) in 2020; and “Industrials Deals of the Year (Over $1B)” in 2019. Click here to learn more.