M&A Deal Summary

Tractor Supply Acquires Petsense

On September 29, 2016, Tractor Supply acquired retailer Petsense from Winona Capital Management for 116M USD

Acquisition Highlights
  • This is Tractor Supply’s 2nd transaction in the Retail sector.
  • This is Tractor Supply’s largest (disclosed) transaction.
  • This is Tractor Supply’s 3rd transaction in the United States.
  • This is Tractor Supply’s 1st transaction in Arizona.

M&A Deal Summary
Date 2016-09-29
Target Petsense
Sector Retail
Buyer(s) Tractor Supply
Sellers(s) Winona Capital Management
Deal Type Add-on Acquisition
Deal Value 116M USD
Advisor(s) William Blair (Financial)
Jenner & Block (Legal)

Target

Petsense

Scottsdale, Arizona, United States
website
Petsense, Inc. is a specialty pet supply retailer with 50 stores located in 16 states across the United States. Petsense, Inc. was established in 2005 and is headquartered in Scottsdale, Arizona.

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Buyer(S) 1

Buyer

Tractor Supply

Brentwood, Tennessee, United States

website

Category Company
Founded 1938
Sector Retail
Employees42,000
Revenue 14.2B USD (2022)
DESCRIPTION
Entrance to Tractor Supply's corporate headquarters in Brentwood, Tennessee.
Entrance to Tractor Supply's corporate headquarters in Brentwood, Tennessee.

Tractor Supply is a national retailer of home improvement, agriculture, lawn and garden maintenance, and other goods and services. Tractor Supply was founded in 1938 and is based in Brentwood, Tennessee.

DEAL STATS #
Overall 3 of 3
Sector (Retail) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (Arizona) 1 of 1
Country (United States) 3 of 3
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-22 Del s Feed & Farm Supply

Seattle, Washington, United States

Del's Feed & Farm Supply, has 23 stores located in Washington, Oregon, Idaho, and Hawaii.

Buy -

Seller(S) 1

SELLER

Winona Capital Management

Chicago, Illinois, United States

Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2006
PE ASSETS 125M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Winona Capital Management is a private investment firm that makes direct investments in consumer related middle-market companies. Winona targets growth companies generating sales of $10 to $100 million and EBITDA of at least $1 million. The Firm can commit up to $15 million per transaction. Specific areas of interest include niche consumer goods and services; sports, recreation and leisure; specialty manufacturing and distribution; growth-oriented, multi-unit specialty food and retail; and education services. Winona's investment horizon is five years. Winona Capital Management is based in Chicago, Illinois.

DEAL STATS #
Overall 4 of 8
Sector (Retail) 1 of 2
Type (Add-on Acquisition) 3 of 6
State (Arizona) 1 of 1
Country (United States) 4 of 7
Year (2016) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-09 Monica Vinader

Docking, United Kingdom

Monica Vinader is a provider of ready-to-wear contemporary designer jewelry. Monica Vinader was formed in 2002 and is based in Docking, England.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Ancora

Chicago, Illinois, United States

Ancora is a client-focused investment management and family wealth advisory firm that operates with the highest level of integrity and honesty in all aspects of our business. Ancora was founded in 2017 and is based in Chicago, Illinois.

Buy -
Mergr

Product

Company

Legal