FTC Clears Tractor Supply’s $320 Million Deal to Buy Smaller Rival

Tractor Supply said a federal regulator has approved its purchase of Orscheln Farm & Home, a smaller rival in the rural-lifestyle retail business, after a year and a half of negotiations and lobbying by state attorneys general.

Tractor Supply said Tuesday it will pay $320 million for the 166 stores, the largest acquisition in the company’s history. It will only keep 81 stores as part of an agreement with the Federal Trade Commission, which includes the sale of 12 locations to Buchheits, a small home-improvement and farm and ranch retailer, and 73 locations to Bomgaars, another small retailer in the category, said Hal Lawton, chief executive of Tractor Supply, in an interview.