This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Titan Machinery Agrees to Acquire Two Iowa Farm Equipment Dealerships 2009-09-30 07:00 ET - News Release
FARGO, N.D. -- (Business Wire)
Titan Machinery Inc. (NASDAQ:TITN) announced today that it has entered
into a letter of intent to acquire the assets of Oskaloosa Implement
Co., with two Case IH brand agriculture equipment dealerships located in
Pella and Oskaloosa, Iowa. The acquisition is expected to close on
November 1, 2009.
Pella and Oskaloosa are adjacent cities located approximately 55 miles
southeast of Des Moines and are well-situated to serve Iowa’s farming
community. In its most recent fiscal year ended December 31, 2008, the
two dealerships generated revenue of $16.8 million.
David Meyer, Titan Machinery’s Chairman and CEO, said, “We are excited
about our newest dealerships in south central Iowa. Iowa is an extremely
important agriculture state, and we are pleased to be strengthening the
Titan Machinery brand in this key market. Both the Oskaloosa and Pella
dealerships have been in business for over 50 years and have developed
strong relationships with their local farming communities. We look
forward to continuing these relationships as we integrate these
dealerships into our network.”
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