Business
Tractor Supply Company Receives FTC Clearance to Close Orscheln Farm and Home Acquisition
Leading Rural Lifestyle Retailer Significantly Expands Store Footprint in the Midwest Acquisition Positions Company to Achieve Exciting Milestones Including
About this update from Tractor Supply Company
[{"type":"text","content":"\n\nLeading Rural Lifestyle Retailer Significantly Expands Store Footprint in the Midwest\n\n\n\nAcquisition Positions Company to Achieve Exciting Milestones Including Annual Sales Exceeding $14 Billion, More Than 2,100 Tractor Supply Stores and 50,000 Team Members\n\n\n\nTotal Store Opportunity Increased to 2,800 Locations\n\n\n BRENTWOOD, Tenn.--(BUSINESS WIRE)--\nTractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, announced today that it received clearance from the Federal Trade Commission (“FTC”) to close on its previously announced acquisition of Orscheln Farm and Home. The closing of the acquisition is anticipated to be completed on October 12, 2022. The Company will acquire a net 81 stores and divest the remaining 85 stores to two buyers approved by the FTC. The net purchase price of the 81 stores acquired and retained is approximately $238 million before working capital adjustments. The acquisition is anticipated to generate an estimated future tax benefit of approximately $20 million.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221011006221/en/Tractor Supply Company receives FTC clearance to close Orscheln Farm and Home Acquisition. (Photo: Business Wire)\n“Today is an important day for Tractor Supply as this acquisition expands our ability to better serve our customers in the Midwest. We are committed to providing customers in the region with an elevated product assortment, a meaningful loyalty offering, an enhanced digital shopping experience and so much more that Tractor Supply is able to offer,” said Hal Lawton, Tractor Supply’s President and Chief Executive Officer. “Importantly, Tractor Supply is on track to achieve several monumental milestones in the growth of our company including annual revenues in excess of $14 billion, a store base of over 2,100 Tractor Supply locations and a highly engaged workforce of 50,000 Team Members. We are excited to build on our track record of long-term growth as we look to unlock revenue and earnings opportunities with this attractive acquisition that enhances our growth profile.”\n\nLawton continued, “While agreeing to this remedy with the FTC took longer than we anticipated, the outcome is in line with our expectations. We are very pleased with the high-quality locatio...