Bomgaars to Acquire 73 Stores from Orscheln as Part of Mega-Deal
Officials with Bomgaars confirmed the Sioux City, Iowa-based company’s acquisition of 73 stores from Orscheln Farm and Home as part of a larger industry mega-deal. The transaction will make Bomgaars the second largest farm and ranch retailer in the nation based on total store count.
After reviewing the proposed acquisition for over a year, on Tuesday, the Federal Trade Commission (FTC) announced the approval of Brentwood, Tennessee-based Tractor Supply Company’s bid to acquire Orscheln Farm and Home of Moberly, Missouri. As a condition of mitigating anti-trust concerns, 73 of the Orscheln locations were required to be purchased by a third-party participant to the deal and Bomgaars of Sioux City, Iowa became the ideal candidate to complete this transaction. An additional buyer purchased 12 other Orscheln locations.
“Today, we are pleased to announce that after a year and a half of very complex, multi-party negotiations, Bomgaars will acquire 73 stores in seven states, and experience an unprecedented level of growth for our customers, our community, and our company,” said CEO Torrey Wingert. “While the federal approval process was at times equally exhausting and frustrating, our team and the Bomgaars family remained steadfast in their determination to complete this acquisition, and this collective commitment to do so was a big part in ensuring this deal was successfully concluded,” added Wingert.
Bomgaars executives confirmed that the 73 new stores would bring their total number of locations to 180 in 15 states throughout the central United States, while adding 1,400 new employees. Additionally, as part of the transaction, Bomgaars will acquire Orscheln’s 330,000 square foot distribution center in Moberly, Missouri in October or November of 2023.
Founded in Middleburg, Iowa in 1944, Bomgaars is a family-owned business with headquarters in Sioux City, Iowa. Said company owner Roger Bomgaars, “I am grateful to our executive team for their persistence in seeing this deal through to its ultimate and successful conclusion. Our family is proud of our organization, each of our approximately 3,300 current employees, and the difference we make for our farm and ranch clients and customers every single day.” Each spring, Roger and his wife, Jane, “road trip” across the country to visit their stores and have indicated that they are excited to include their 73 new locations in upcoming travel plans so that they can personally welcome 1,400 valued employees into the organization.
Source: Bomgaars Supply, Inc.