There have recently been speculations that the private equity company KKR, which owns Fleet Farm, intends to sell the chain of stores. Representatives from KKR and Fleet Farm, however, refuted these allegations and insisted that no plans exist to sell the business.
Fleet Farm, with its corporate office in Appleton, Wisconsin, runs 47 locations in North Dakota, Minnesota, Iowa, and Wisconsin. Stewart Mills Sr. established the business in 1955, and since then it has grown to be a favorite stop for Midwesterners looking for a variety of products, including apparel, household goods, farm and ranch supplies, hunting and fishing equipment, and other items.
It’s important to note that Fleet Farm should not be confused with Farm and Fleet, a different Midwest retail brand. Although the products offered by the two establishments are somewhat similar, Farm and Fleet was established in 1954, one year before Fleet Farm. The headquarters of Farm and Fleet are located in Janesville, Wisconsin, whereas those of the other two companies are spread across two other states.
Regarding KKR, it is a multinational investment corporation with a focus on real assets, credit, and private equity. Since its founding in 1976, KKR has made investments in a broad range of businesses in numerous sectors. The company is known for purchasing failing businesses and turning them around, frequently by enacting cost-cutting measures or other operational modifications.
Although speculations that KKR was planning to sell Fleet Farm may have worried some of the company’s devoted supporters, it seems that these rumors are baseless. For the time being, it appears that KKR will continue to own and run Fleet Farm, giving Midwesterners access to the products they require for years to come.
Fleet Farm is a company, yes.
The number of employees at Fleet Farm is unfortunately not mentioned in the article. The article largely tackles rumors that KKR might sell the business and makes it clear that KKR has no current plans to do so.