Wisconsin Ag Connection - Fleet Farm Sold to Investment Group

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Fleet Farm Sold to Investment Group
Wisconsin Ag Connection - 01/06/2016

The owners of Mills Fleet Farm have announced they sale of their hardware and farm supply company to a global investment firm. The Brainerd, Minnesota-based Fleet Farm has 36 store locations in four states and employs about 6,000 people. It is being acquired by KKR of New York for an undisclosed amount.

In October, the Mills family said they wanted to sell the store chain because they have reached a point where additional capital would be needed in order to remain competitive.

"We have decided to partner with KKR in order to take Mills Fleet Farm to the next level of growth for the future," said Co-Presidents Henry Mills II and Stewart Mills, Jr. "We took great care in our approach to finding the right partner who shared our values and would preserve the legacy the Mills family has built after serving the Midwest over the last 60 years. We truly believe KKR is the best fit for us organizationally and also the best fit for our employees."

The company began in 1955, with its first location being in Marshfield at the time.

KKR is also the parent holding company of Toys R Us and Academy Sports + Outdoors.

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