Titan Machinery Inc. announced that it has closed on the acquisition of Valley Farm Equipment, Inc., a Case IH brand agriculture equipment dealership located in Milbank, South Dakota.
Valley Farm Equipment, Inc. is strategically located in the fertile Whetstone Valley in Eastern South Dakota, between Titan Machinery’s existing dealerships in Graceville, Minnesota, Watertown, South Dakota, and Aberdeen, South Dakota. In its most recent fiscal year ended February 28, 2009, Valley Farm Equipment generated revenues of approximately $10.5 million.
David Meyer, Titan Machinery’s Chairman and CEO, said, “We are very pleased to bring the Titan Machinery operating model to the Milbank dealership. Our newest dealership will benefit from the area’s productive farmland with diversified crop and livestock. Valley Farm Equipment’s selling owner, Bob Biersbach, will continue as store manager, and Titan Machinery welcomes the depth and experience of the existing Valley Farm Equipment management and employee team. This will be an excellent addition to our network, and we believe that we will make a positive impact on the market with our quality product offerings and service.”
About Titan Machinery Inc.
Titan Machinery Inc., founded in 1980 and headquartered in Fargo, North Dakota, is a multi-unit business with mature locations and newly acquired locations. The Company owns and operates one of the largest networks of full service agricultural and construction equipment stores in North America. Including the Valley Farm Equipment, Inc. store, the Titan Machinery network consists of 72 dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska and Wyoming, including three outlet stores, representing one or more of the CNH Brands (NYSE:CNH) Case IH, New Holland Agriculture, Case Construction, New Holland Construction, Kobelco and CNH Capital. Additional information about Titan Machinery Inc. can be found at www.titanmachinery.com.