Mills Fleet Farm is sold to KKR

Mills Fleet Farm — a 35-store, family-owned chain that sells farming, hunting and other supplies in four Midwestern states and operates several gas stations and car washes — will be acquired by private equity firm KKR Co.,

the

Wall Street Journal

reported.

The first store under the Mills Fleet name opened in 1955 in Marshfield, Wis. The co-founders, Henry Mills II and Stewart Mills Jr., are the company's co-presidents.

The selling price was undisclosed, but in December Reuters reported that KKR could pay more than $1.2 billion for the company, the


Journal


article said. The


Journal


cited a report from the


Minneapolis Star Tribune


that said several Mills family members are expected to leave the company, but the family will keep a small ownership stake. (Source:


Wall Street Journal


, Jan. 5, 2016.)