M&A Deal Summary

Tractor Supply Acquires Petsense

On September 29, 2016, Tractor Supply Co. acquired retail company Petsense, Inc. from Winona Capital Management LLC for 116M USD

Acquisition Highlights
  • This is Tractor Supply’s 2nd transaction in the Retail sector.
  • This is Tractor Supply’s 1st 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, Inc.
Sector Retail
Buyer(s) Tractor Supply Co.
Sellers(s) Winona Capital Management LLC
Deal Type Add-on Acquisition
Deal Value 116M USD
Advisor(s) William Blair & Co. LLC (Financial)
Jenner & Block LLP (Legal)

Target

Petsense, Inc.

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 Co.

Brentwood, Tennessee, United States

website


Category Company
Founded 1938
SectorRetail
Employees42,000
Revenue 10.6B USD (2020)
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 formed 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 LLC

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
PE ASSETS 125M USD
SizeSmall
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 Ltd.

Docking, United Kingdom

Monica Vinader Ltd. is a provider of ready-to-wear contemporary designer jewelry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-24 Incredible Foods

Boston, Massachusetts, United States

Incredible Foods is a maker of allergen-friendly food products. Incredible Foods is focused on creating delicious snacks that are free from the Big 8 common allergens (dairy, wheat / gluten, peanuts, tree nuts, eggs, soy, fish and shellfish). Its first offering, perfectly free™ non-dairy frozen bites, are frozen treats made with a creamy vanilla core and enrobed by a velvety layer of real cherry, blueberry, rich cocoa or salted caramel. The all-natural, non-GMO bites are made in a dedicated, free-from facility and contain no artificial flavorings, colors or preservatives.

Buy -