CALGARY, Alberta (Oct. 26, 2009) Rocky Mountain Dealerships Inc. (TSX: RME), a leading agriculture and construction equipment dealer, announced today that it has signed a purchase and sales agreement to acquire certain business assets of Mayor Equipment, an agriculture dealership in Neepawa, Manitoba. The acquisition is anticipated to close on or about November 1, 2009.
Mayor represents the Case IH agriculture brand, and also sells various short-line equipment such as MacDon, Morris and Degelman. In its most recent fiscal year, Mayor reported approximate revenues of $15 million.
This acquisition is strategic as it completes the Case IH consolidation in western Manitoba and solidifies Rocky Mountain's footprint. The previously announced acquisition of Enns Agri in Winkler Manitoba, and the Mayor acquisition will represent the 11th and 12th locations added to Rocky Mountain since the initial public offering in December 2007.
Rocky Mountain represents one of Canada's largest agriculture and construction equipment dealerships and with the acquisition of Mayor will operate a total of 24 dealerships locations throughout Alberta, Saskatchewan and Manitoba.
Rocky Mountain sells, rents and leases new and used construction and agriculture equipment, including the Case Construction and Case IH agriculture brands, as well as offering product support and finance and insurance products to its customers.
Source: Canada NewsWire