IDAHO FALLS, Idaho–(BUSINESS WIRE)–C-A-L Ranch Stores announces definitive merger agreement with Coastal Farm & Home to create a leading 54 unit farm and ranch retailer in the Western U.S.
- Nolan Capital, majority partner of Coastal, to retain majority stake in combined company
- Jerry Ward (majority owner of C-A-L) and Tom Yearsley (minority owner and CEO of C-A-L) to retain significant ownership in combined company
- Newly combined company will be led by Tom Yearsley, CEO of C-A-L Ranch
C-A-L Ranch Stores, a leading farm and ranch retailer with 33 locations across Idaho, Utah, Nevada and Arizona announced that it has entered into a definitive merger agreement with Coastal Farm & Home, a leading ranch and country lifestyle retailer with 21 locations in the Pacific Northwest. Nolan Capital, current majority partner of Coastal, will retain a majority stake in the combined business. The combined business will operate 54 retail locations across 6 states with over 2,200 associates.
Jerry Ward, the majority owner of C-A-L, will maintain a significant ownership stake and continue to advise the company’s growth as a member of the board. Tom Yearsley, a minority owner and CEO of C-A-L, will lead the combined company as CEO.
“Building C-A-L Ranch into the company it is today has been a great accomplishment by our team, and I am proud of our support for the communities we serve,” said Jerry Ward, majority owner of C-A-L. “This decision was made with the utmost care for my family, our employees and the company’s future. We are excited about the combination of two great companies and I am confident this business is set up for continued success with Tom and Nolan Capital.”
“There are great synergies between the two companies. Collectively, we have over one hundred years of successful farm and ranch retail experience. As we learn from each other and become united, we will be able to build upon the legacies of Coastal Farm & Home and C-A-L Ranch Stores. The future is bright, and I am excited to be part of such a great team and to be part of the incredible merger of these great companies,” said Tom Yearsley, CEO of C-A-L Ranch and the newly combined company.
The merger between C-A-L and Coastal marks an exciting next step for Nolan Capital’s investment in the farm and ranch retail industry. “The combination of these two great businesses creates an enormous amount of value and opportunity. We are thrilled to be partnering with Jerry and Tom who have built C-A-L Ranch into a leading player and best-in-class operator in the farm and ranch retail industry,” said Peter Nolan, Chairman of Nolan Capital.
Larry Hayward, CEO of Del Mar Ventures and Chairman and investor of Coastal, will serve as non-executive chairman of the board of the combined company. Hayward made a meaningful investment alongside Nolan Capital and will play a strategic role in advising the company’s growth. Hayward was previously the CEO of Leslie’s Poolmart, as well as Carr-Gottstein Foods Co.
Cascadia Capital LLC served as the financial advisor to C-A-L Ranch on the transaction. O’Melveny & Myers LLP served as legal advisor to Nolan Capital. Carney Badley Spellman, P.S. served as legal advisor to C-A-L Ranch.
About C-A-L Ranch Stores & Coastal Farm & Home
Founded in 1959, C-A-L Ranch is a category-leading ranch and lifestyle retailer with 33 locations and 1,100 associates across Idaho, Utah, Nevada and Arizona. The Company is the retailer of choice for a growing population of country lifestyle shoppers, outdoor enthusiasts, pet owners, hobby farmers and more.
Coastal Farm & Home is a farm and ranch lifestyle retailer with 21 locations and 1,100 associates across Oregon and Washington. Since 1963, customers have trusted Coastal to provide the best experience, products and service that allow them to live their lifestyle.
About Nolan Capital, Inc.
Nolan Capital is the family office of Peter Nolan. Peter has more than 40 years of investing experience and was the former Managing Partner of Leonard Green and Partners in Los Angeles, California. He currently serves as a Senior Advisor to Leonard Green. Peter has investment experience in a variety of sectors, such as consumer products and services, retail and restaurants, manufacturing, distribution, industrial products, business services, government services and healthcare. Nolan Capital invests in leading middle-market companies. Led by Peter J. Nolan, Nolan Capital executes and manages control investments in operating companies, real estate and other investments on behalf of the Nolan family.
C-A-L Ranch Stores & Coastal Farm & Home