Press release from CNW Group
Rocky Mountain Dealerships Inc. (TSX: RME, OTCQX: RCKXF) announces closing of Case IH dealership acquisition
Friday, November 02, 2012
CALGARY, Nov. 2, 2012 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky"), announced today that it has completed its previously announced agreement (the "Agreement") to purchase the Case IH Agriculture dealership assets of Houlder Automotive Ltd. ("Houlder") located in Grimshaw and Falher, Alberta.
For the most recent fiscal year ended January 31, 2012, Houlder had Case IH Agriculture related revenues of approximately $20 million. This acquisition was completed through existing cash and credit facilities.
Regarding the completion of this acquisition, Rocky's CEO, Matt Campbell, stated, "With this acquisition, Rocky now has a significant position in the vast agriculture market found in Northern Alberta. We look forward to leveraging our network's strength in this region, as we work to become the equipment partner of choice with the customers there."
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 construction and agriculture equipment and offers product support and finance to its customers.
Additional information on Rocky is available at www.rockymtn.com and on SEDAR at www.sedar.com.
SOURCE: Rocky Mountain Dealerships Inc.
For further information:
Rocky Mountain Dealerships Inc.
Matt Campbell, Chief Executive Officer; or
Garrett Ganden, Chief Operating Officer
#301, 3345 - 8th Street S.E.
Calgary, Alberta T2G 3A4
Telephone: (403) 265-7364, Fax (403) 214-5644