Issued: 18,427,250 shares
CALGARY, Dec. 9 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky Mountain" or the "Company"), announced today that it has entered into an agreement (the "Agreement") to purchase certain assets of Agritrac Equipment Ltd. ("Agritrac"), a Case IH agriculture dealership with locations in Westlock, Vegreville and Barrhead, Alberta.
For the most recent fiscal year ended October 31, 2010, Agritrac had revenues of approximately $47 million. This acquisition is expected to close effective January 1, 2011.
CEO Matt Campbell noted, "This acquisition is strategically important to the Company as it provides synergy for our stores in Vermillion and Grande Prairie, Alberta. The Agritrac locations are contiguous to those two stores in northern Alberta and will improve management, product support and access to inventory."
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.
About Rocky Mountain
Rocky Mountain is one of Canada's largest agriculture and construction equipment dealerships with 34 branches (not including Agritrac) throughout Alberta, Saskatchewan, and Manitoba. The Company sells, rents, and leases new and used agriculture and construction equipment and offers product support and finance.
For further information: For further information:
Rocky Mountain Dealerships Inc.
M.C. (Matt) Campbell, Chairman and Chief Executive Officer;
Brian Taschuk, Chief Operating Officer; or
Garrett Ganden, Chief Financial Officer
828 - 46th Avenue S.E.
Calgary, Alberta T2G 2A6
Telephone: (403) 243-8600, Fax (403) 243-2264