Dealer News

Green Diamond Equipment and Reddin Equipment, two prominent Deere dealers in the Maritimes, are merging into one dealership, Green Diamond Equipment, effective October 28.

All 40 Reddin employees and the over 240 Green Diamond employees will become part of one overall Green Diamond Equipment team and will, over the next several months, ensure a seamless transition.

Source: Journal-Pioneer

Farm machinery dealer chain Cervus Equipment Corp. plans to sell about 10 properties where it now operates dealerships, then become a long-term tenant at those properties. The publicly traded Calgary company, which operates 72 farm and industrial equipment dealerships in Canada, Australia and New Zealand, said it plans to seek a sale-and-leaseback deal for about 10 dealer sites.

The Cervus chain in Canada includes 20 Deere ag equipment dealerships in Alberta, Saskatchewan and British Columbia, plus a minority stake in Maple Farm Equipment, which has
seven Deere dealerships in Manitoba and Saskatchewan.

Source: Manitoba CO-OPERATOR

Equipment Dealer Consulting, P.C., the certified public accounting firm affiliated with Western Equipment Dealers Association (WEDA), has released the results of this year’s Cost of Doing Business study. 

For North American dealers, total equity percentage increased almost 1.75 percent from a year ago and gross profit margin percentage increased last year. The overall net income before tax decreased 1 percent, which was one of the negatives indicated by the study. Dealers are still managing inventory, debt and used equipment values.