Rocky Mountain Dealerships Inc. (TSX: RME, OTCQX: RCKXF) Announces Completion of Acquisition of Murray's Farm Supplies
CALGARY, Feb. 1, 2013 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky"), announced today that it has completed its previously announced agreement to purchase 100% of the issued and outstanding shares of MJ Solomon Ltd., operating as "Murray's Farm Supplies" ("Murray's").
For the most recent fiscal year, Murray's had revenues of approximately $15 million. Murray's operates two stores located in Shoal Lake and Russell, Manitoba, and is a dealer of various agriculture short-lines including Bourgault, MacDon and Kubota. This acquisition was completed through existing cash and credit facilities.
On completing this acquisition, Rocky's CEO Matt Campbell stated, "Rocky views Murray's as a strategic acquisition. Murray's short-line brand profiles complement our current Case IH stores in the region and provide our customers with the broad range of products and knowledge that they expect from a dependable partner. We look forward to serving new and existing customers in this important agricultural region."
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;
Garrett Ganden, Chief Operating Officer; or
David Ascott, Chief Financial Officer
#301, 3345 - 8th Street S.E.
Calgary, Alberta T2G 3A4
Telephone: (403) 265-7364, Fax (403) 214-5644