SHENANDOAH, Ia. — The ownership of a major farm implement dealer in southwest Iowa is changing hands.
Officials with Vetter Equipment Wednesday announced the purchase of Madsen International in Shenandoah. Vetter Equipment President Glenn Vetter tells KMA News the deal was solidified with the official transfer of assets between the two companies. Vetter says his company began pursuing the Shenandoah business after purchasing a dealership in Clarinda in July of last year.
With the Shenandoah store's acquisition, the Denison-based company now has 11 locations in Iowa. After opening the Denison location in 1975, the company opened a location in Audubon. Stores in Ida Grove, Storm Lake and Onawa were opened in 1994. In 1997, Vetter expanded into southern Iowa by purchasing dealerships in Indianola, Mount Ayr and Corydon. The Clarinda store's purchase was completed in 2013.
Vetter says the purchase comes as Madsen is celebrating a milestone. The company marked its 50th anniversary as an International Harvester and Case IH dealer in November.
In addition to retaining the nine employees at Madsen, Vetter hopes to add at least two additional staff members in the near future to cover sales and parts.