Mills Fleet Farm to Be Sold to Investment Giant KKR

Family-owned Mills Fleet Farm has agreed to sell to New York-based KKR, one of the country’s largest investment concerns that has holdings in various industries totaling about $100 billion. Terms of the deal, expected to be announced Tuesday, weren't disclosed. However, after the Mills family put the privately held chain of 35 stores up for sale last fall there was speculation in the investment trade nationally that it would fetch in neighborhood of $1 billion.