The big are getting bigger. Or should I say the biggest is getting bigger.
Tractor Supply Company Signs Letter of Intent to Acquire Del’s Farm Supply
– Provides Second Retail Concept and Entry into Northwest Market –
BRENTWOOD, Tenn., July 22 – Tractor Supply Company (NASDAQ:TSCO) , the largest retail farm and ranch store chain in the United States, today announced it has signed a letter of intent to purchase privately-held Del’s Farm Supply, Inc. (“Del’s”). Based in Lakewood, Washington, Del’s operates 17 stores, primarily in the Pacific Northwest, that offer a wide selection of products tailored to those who enjoy the rural lifestyle. Del’s specializes in the equine, animal and pet category, which accounts for approximately 70% of its sales. For the year ended December 31, 2004, Del’s generated approximately $34 million in sales.
The acquisition is subject to negotiation and execution of a definitive acquisition agreement that is expected to include representations, warranties, covenants and closing conditions typical for a transaction of this type. There can be no assurances that the parties will enter into a definitive acquisition agreement, that the conditions to closing will be satisfied, or that consummation of this transaction will occur.
For more information contact Melissa Merrill, +1-212-850-5600.