October 15, 2010 - Rocky Mountain Dealerships Inc. ("Rocky Mountain" or the "Company") announced today that it has purchased 100% of the outstanding shares of K&M Farm Equipment Ltd. ("K&M"), a New Holland agriculture dealership, with locations in Westlock and Barrhead, Alberta. The purchase was funded with cash and 96,401 common shares of Rocky Mountain.
K&M had top-line revenues of approximately $16.9 million in the most recent fiscal year ended November 30, 2009. Both locations will operate under the Hammer Equipment Ltd. division, a wholly owned subsidiary of Rocky Mountain.
Including these branches, 21 locations have been added to Rocky Mountain since the initial public offering in December 2007, bringing the Company's total number of branches to 33.
About Rocky Mountain - Rocky Mountain is one of Canada's largest agriculture and construction equipment dealerships with branches in Alberta, Saskatchewan and Manitoba. Rocky Mountain sells, rents, and leases new and used construction and agriculture equipment and offers product support, finance, and insurance products to its customers.