Rocky Mountain Dealerships Inc. (TSX: RME) announces agreement to acquire northern Alberta Case IH dealership
CALGARY, Oct. 18, 2012 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky"), announced today that it has entered into an agreement (the "Agreement") to purchase the Case IH Agriculture dealership assets of Houlder Automotive Ltd. ("Houlder"). Houlder operates dealership locations in Grimshaw and Falher, Alberta.
For the most recent fiscal year ended January 31, 2012, Houlder had Case IH Agriculture related revenues of approximately $20 million. This acquisition is expected to close effective November 1, 2012, and be completed through existing cash or credit facilities.
Rocky's CEO Matt Campbell commented on this acquisition by saying, "Consistent with our previous statements, we continue to assess and execute strategic acquisitions as they become available. With this acquisition, Rocky will have a very strong position in the vibrant Peace Country agriculture market, and in Northern Alberta as a whole."
Forward Looking Statements
The Agreement contains a number of conditions to closing and, as such, there is the possibility that this acquisition may not ultimately be completed.
Rocky is one of Canada's largest agriculture and construction equipment dealership networks with branches located throughout Alberta, Saskatchewan and Manitoba. Through its network of Rocky Mountain Equipment locations, Rocky sells, rents, and leases new and used construction and agriculture equipment and offers product support and finance to its customers.
SOURCE: Rocky Mountain Dealerships Inc.For further information:
Rocky Mountain Dealerships Inc.
Matt Campbell, Chief Executive Officer; or
Garrett Ganden, Chief Operating Officer
#301, 3345 - 8th Street S.E.
Calgary, Alberta T2G 3A4
Telephone: (403) 265-7364, Fax (403) 214-5644