CALGARY, June 4, 2012 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky"),
announced today that it has entered into an agreement (the "Agreement")
to purchase 100% of the issued and outstanding shares of Camrose Farm
Equipment Ltd. ("CFE"), an operator of Case IH and New Holland
Agriculture dealerships in Camrose and Killam, Alberta.
For the most recent fiscal year ended March 31, 2012, CFE had
agriculture-related revenues of approximately $54 million. This
acquisition is expected to close effective July 3, 2012 and be
completed through existing cash and credit facilities.
Rocky's CEO Matt Campbell commented on the acquisition "We have
maintained that we would continue to assess accretive opportunities,
which we strongly believe this to be. From a strategic perspective,
these dealerships strengthen our position in the central Alberta
market, which continues to offer a strong outlook with a growing
economy, solid commodity prices and exceptional growing conditions."
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
Rocky is one of Canada's largest agriculture and construction equipment
dealerships with 36 branches throughout Alberta, Saskatchewan and
Manitoba. Rocky sells, rents, and leases new and used construction and
agriculture equipment and offers product support, and finance to its
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.
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