BRAINERD, MN (WTAQ) – Mills Fleet Farm, one of the state’s largest hardware and home improvement chains, could soon have a new owner.
The family-owned company says it’s reviewing a large group of possible suitors that can provide more capital to keep the business growing at a competitive rate.
Many know Fleet Farm as “The Man’s Mall.” It’s based in Brainerd, Minnesota with 35 stores — including 18 in Wisconsin.
The Mills family opened the chain in 1955 as Fleet Wholesale Supply. It now has 6,000 employees in Wisconsin, Minnesota, Iowa, and North Dakota.
Stewart Mills III tells the Brainerd Dispatch it has several interested buyers, and the family wants to choose the “best fit” that would move the business forward while taking care of its employees.
Mills says it’s not known what a transaction would look like, but the family would most likely leave the firm. He says they could keep the business growing at a slower pace, but the potential exists for more growth — and that would be the best for the long run.
(Story courtesy of Wheeler News Service)
