BRENTWOOD, Tenn. — TSC announced that it has entered into an agreement to acquire Orscheln Farm and Home in an all-cash transaction for approximately $297 million, net of acquired estimated future tax benefits of $23 million. Orscheln Farm and Home operates 167 stores located in 11 states: Missouri, Kansas, Nebraska, Iowa, Indiana, Oklahoma, Arkansas, Texas, Kentucky, Illinois, and Ohio. The acquisition is conditioned on the receipt of regulatory approval and satisfactory completion of customary closing conditions.
Tractor Supply’s preliminary estimates indicate the acquisition will be immediately accretive to earnings per share upon closing. The earnings accretion is anticipated to grow over time as planned synergies are achieved. Tractor Supply intends to fund the acquisition through existing cash on hand.
For Tractor Supply, Goldman Sachs & Co. LLC is acting as financial advisor, and Bass, Berry & Sims PLC is acting as legal advisor. Fifth Third Securities is acting as financial advisor to Orscheln Farm and Home, while Stinson LLP is acting as legal advisor.
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