CALGARY, April 1, 2015 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky"), announced today that it has successfully completed its previously-announced acquisition of 100% of the issued and outstanding shares of the entities forming Chabot Implements ("Chabot"), a Manitoba-based dealer of Case IH agriculture equipment.
As disclosed previously, in its most recent fiscal year, Chabot had consolidated top-line revenues of approximately $68 million. This acquisition was funded through Rocky's existing cash and credit facilities.
Commenting on the closing of this acquisition, Garrett Ganden, Rocky's President and CEO, stated, "The completion of this acquisition furthers Rocky's footprint in the important Manitoba agriculture market. We look forward to utilizing this expanded footprint to continue to develop our business with our OEM partners. We are also looking forward to working with Chabot's established customer network, and would also like extend a warm welcome to all the staff coming into Rocky as part of this transaction."
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 agriculture and construction equipment and offers product support and finance to its customers.
SOURCE Rocky Mountain Dealerships Inc.
For further information: please contact: Rocky Mountain Dealerships Inc., Garrett Ganden, President and Chief Executive 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