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Fleet Farm's Sale to KKR Now Complete
Wisconsin Ag Connection - 03/04/2016

The acquisition of Mills Fleet Farm by a global investment firm is now official. KKR of New York announced it has completed the purchase of the hardware and farm supply chain from the Mills family, which founded the company in 1955.

Duncan Mac Naughton, a former Wal-Mart executive, will assume the role of CEO of Mills Fleet Farm. And Hugh Leasum, a member of Fleet Farm's executive management team, becomes the chief operating officer.

"Mills Fleet Farm is a beloved Midwest retailer that has upheld the Mills family principles over the last 60 years," Hugh Leasum said. "We are excited to welcome Duncan back to his native Wisconsin and to the Mills Fleet Farm team. We are confident that Duncan Mac Naughton, in partnership with the outstanding executive team already in place, will drive the company's continued growth, while preserving the Mills' values of honesty, integrity, hard work, service and loyalty."

The Mills family announced their intentions to sell the store last fall, saying they have reached a point where additional capital would be needed in order to remain competitive.

Based in Brainerd, Minnesota, Fleet Farm employs about 6,000 people and has 36 store locations in four states. KKR is also the parent holding company of Toys R Us and Academy Sports + Outdoors.

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