Mills Fleet Farm Sold

Family-owned Mills Fleet Farm has been sold.

New York based investment firm KKR will acquire majority control of the stock, but the Mills family will keep a small ownership stake.

Financial terms of the sale were not disclosed.

KKR has holdings in various industries totaling about $100 billion.

Mills Fleet Farm has 35 locations in North Dakota, Minnesota, Wisconsin and Iowa.

The company was started in 1955 by Stewart Mills Sr. along with his sons.

Its corporate office is in Brainerd.