Titan Acquires Two IA Dealerships

Titan Machinery Inc., Fargo, ND, recently announced that it has entered into a letter of intent to acquire the assets of Oskaloosa Implement Co., with two Case IH brand agriculture equipment dealerships located in Pella and Oskaloosa, IA. The acquisition is expected to close on November 1, 2009.

In its most recent fiscal year ended December 31, 2008, the two dealerships generated revenue of $16.8 million.

David Meyer, Titan Machinery’s Chairman and CEO, said, “We are excited about our newest dealerships in south central Iowa. Iowa is an extremely important agriculture state, and we are pleased to be strengthening the Titan Machinery brand in this key market. Both the Oskaloosa and Pella dealerships have been in business for over 50 years and have developed strong relationships with their local farming communities.”