Titan Machinery Grows to 102 Dealerships

aginfo

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Any opinions on the trend to increasing the size of Farm Machinery Dealerships?

Titan Machinery Announces Agreement to Acquire Toner?s Inc.

WEST FARGO, N.D.--(BUSINESS WIRE)--Oct. 16, 2012-- Titan Machinery Inc. (NASDAQ:TITN) announced today that it has entered into an agreement to acquire Toner?s Inc., which consists of three CaseIH agricultural equipment dealerships located in Grand Island (currently ?Toner?s, Inc.?), Broken Bow (currently ?Red Line Equipment?) and Ord (currently ?Ord Equipment?), Nebraska. The acquisition is expected to close on or around November 1, 2012.

Toner?s three dealerships are strategically located in a diverse agriculture market with the primary crops being corn and soybeans, as well as livestock diversification. Toner?s three locations offer synergies with Titan Machinery?s existing stores in Kearney, Lexington, North Platte and Hastings, Nebraska and also benefit from agricultural irrigation with water sourced from the Ogallala Aquifer. In its most recently reported fiscal year, Toner?s Inc. reported revenues of approximately $44.5 million.

Read more at http://www.farms.com/FarmsPages/Cha...iew/tabid/146/Default.aspx?chatid=113148&CV=1
 
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