Moberly-based Orscheln Farm and Home and Tractor Supply Company have signed an agreement to merge their companies. This according to a news release from Orscheln Farm and Home.

A release from Tractor Supply Company says they will acquire Orscheln Farm and Home in an all cash transaction for approximately $297 million dollars. Hal Lawton, Tractor Supply’s President and Chief Executive Officer says the deal will expand Tractor Supply Company's footprint in the Midwest.

According to Orschelin's news release, Barry Orscheln, Orschelin Home and Farm Board Chairman told employees:

Tractor Supply and Orscheln Farm and Home have tremendous respect for one another. We share similar culture and values. Bringing the companies together makes good business sense, as each of our companies and employees will bring unique and complementary experience, knowledge, and skills. The resulting synergies will enhance the total shopping experience for our customers and the communities in which we do business.

Tractor Supply's Lawton also echoed Orscheln's assertion that the two companies have complimentary cultures:

We look forward to bringing together our highly complementary cultures and teams to realize the long-term value and benefits that we expect this acquisition to deliver.

Orscheln Farm and Home began with one store in Sedalia 60 years ago and has grown to 167 stores in eleven states. Tractor Supply Company has been in business for over 80 years and operates over 1900 stores in 49 states.

Neither company's media release addresses whether or not Tractor Supply Company plans on continuing to use the Orschelin Farm and Home name. Or what will happen in markets where both Orschelin and TSC have stores.

Here are 50 of your favorite retail chains that no longer exist.

More From AM 1050 KSIS