Issued: 18,708,400 shares
CALGARY, April 1 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky") (TSX:
RME) announced today that it has closed the previously announced
agreement to purchase 100% of the outstanding shares of J&B Equipment
Ltd. ("J&B"), a Case IH agriculture dealership operating in Kindersley,
Saskatchewan. The acquisition was funded with cash and 84,086 common
shares of Rocky.
J&B will operate under Rocky Mountain Dealer Group Partnership
("RMDGP"), through its Miller Equipment division. RMDGP is a wholly
owned subsidiary of Rocky.
Rocky's CEO, Brian Taschuk, remarked, "This acquisition gives Rocky our
first exposure in western Saskatchewan, an important agriculture
market. J&B is a well established Case IH agricultural location with
good opportunity for revenue growth as part of the Rocky network. We
have added four locations in 2011, reaching our target number of
acquisitions for the year, continuing the consolidation efforts of CNH
dealers in western Canada."
Rocky is one of Canada's largest agriculture and construction equipment
dealerships, with 38 branches throughout Alberta, Saskatchewan, and
Manitoba. Rocky sells, rents, and leases new and used agriculture and
construction equipment and offers product support and finance.
Additional information on Rocky is available at www.rockymtn.com and on SEDAR at www.sedar.com.
SOURCE Rocky Mountain Dealerships Inc.
For further information:
Rocky Mountain Dealerships Inc.
Brian Taschuk, Chief Executive Officer; or
Garrett Ganden, Chief Financial Officer
828 - 46th Avenue S.E.
Calgary, Alberta T2G 2A6
Telephone: (403) 243-8600, Fax (403) 243-2264