PIKE COUNTY, Mo — A company that’s acquired Moberly-based Orscheln Farm and Home says it’s business as usual for now.
Tennessee-based Tractor Supply Company has purchased Moberly-based Orscheln in an all-cash transaction for $297 million.
Orscheln’s headquarters and distribution center are located in Moberly, and Orscheln operates 61 stores across rural Missouri. The store locations include Moberly, Mexico, Marshall, Cameron, Nevada, Sikeston and Sullivan. Tractor Supply has 27 Missouri store locations.
A Tractor Supply spokeswoman tells Missourinet that it’s business as usual right now for those stores and that no other plans have been announced at this time. The spokeswoman says Tractor Supply’s focus is now on regulatory approval.
Barry Orscheln, the longtime chairman and CEO at Orscheln Farm and Home, is well-known in Moberly and across rural Missouri. He’s issued a statement, saying the future is bright.
“For more than 60 years, my family, our Orscheln Farm and Home employees and I have been committed to serving the needs of rural communities across the Midwest. I am very proud of all that we have accomplished over this time. I am confident that with Tractor Supply, our stores will be well-positioned to continue Orscheln’s tradition of taking care of our customers and communities for the next phase of growth,” Orscheln’s statement reads.
Tractor Supply’s press release says they intend to fund the acquisition through existing cash on hand.