Fleet Farm

Fleet Farm is a regional farm, home, and outdoor retailer that serves rural, exurban, and suburban communities across the Upper Midwest. The chain focuses on large stores that offer farm supplies, tools, home improvement, sporting goods, hunting and fishing gear, outdoor power equipment, pet and livestock products, apparel, and everyday convenience items. Many locations also incorporate fuel, auto service, and related outparcel uses, which extends customer visits and helps drive steady traffic to the broader site.

The company was founded in 1955, when the Mills family opened the first Mills Fleet Farm store in Brainerd, Minnesota to support local agricultural and outdoor customers. Over time the business expanded through Wisconsin, Minnesota, and neighboring states, building a loyal following among working families, hobby farmers, and outdoor enthusiasts who relied on its broad assortment and practical pricing. A key milestone came in 2016, when funds managed by KKR acquired the chain. Following that transaction, the brand shortened its name to Fleet Farm and began ramping up new store development and supply chain investments to support a larger regional footprint.

As of October 2024, Fleet Farm operates 49 stores across Minnesota, Wisconsin, Iowa, North Dakota, South Dakota, and select additional Upper Midwest markets, supported by an e‑commerce platform that extends its reach beyond its physical trade areas. Most locations are large-format stores with outdoor yard components and on-site or adjacent fuel and automotive offerings, typically positioned along major highways or established regional retail corridors. The retailer often serves as an anchor in these settings, creating a platform for additional small-shop, quick-service, and pad-site tenants.

Over roughly the last five years, Fleet Farm has remained in expansion mode under KKR’s ownership, with new-build stores in markets such as Sioux Falls, South Dakota, Cedar Rapids, Iowa, and Greenfield, Wisconsin. Public planning activity and approvals in Wisconsin, Iowa, and the Dakotas point to a continuing pipeline of large-format projects as the company evaluates both ground-up and major redevelopment opportunities in regional trade areas. The brand tends to favor secondary and tertiary markets, along with edge-of-metro locations, where it can draw from wide rural catchments while still appealing to suburban households and facing limited direct overlap with national big-box competitors.

Today Fleet Farm operates as a privately held portfolio company of KKR, so detailed financial reporting is not available, but it is widely regarded as a stable, established operator in the Upper Midwest. For landlords, brokers, and developers, the chain represents a proven traffic anchor with a wide merchandise mix that encourages cross-shopping across outdoor, automotive, household, and convenience categories. Its large sites, integrated fuel and auto components, and continued growth posture across the region make Fleet Farm a meaningful player in new regional retail developments and in the repositioning of legacy power and community centers.