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AEDNews - Construction Equipment Industry News Titan Machinery Acquires Agriculture Dealership Titan Machinery Inc. has announced that it has entered into a definitive asset agreement to acquire the assets of the farm equipment business of Arthur Mercantile, Co., a Case IH brand agriculture equipment dealership in Arthur, North Dakota. The acquisition is expected to close on May 28, 2009. Found in 1890 by Fred and James Williams, Arthur Mercantile Co. is the oldest farm equipment dealership in North Dakota and is located in the fertile Red River Valley farmland which is considered to be some of the best farmland in North America. David Meyer, Titan Machinery’s Chairman and CEO, said, “We are excited and honored to begin operations in the Arthur, North Dakota market. We have the highest respect and regard for the Williams family, who have successfully operated the dealership for three generations. Since the early 1900s, Arthur Mercantile with its long heritage as an IH and CaseIH equipment dealer has provided superior service to farmers in the Arthur area, including many of the well established farm families in the Red River Valley. James L. Williams, Arthur Mercantile’s President and Treasurer, is an industry leader, has been a Titan Machinery Director since 2003 and is a strong supporter of Titan Machinery’s long-term growth initiatives. ” About Titan Machinery Inc. Titan Machinery Inc., founded in 1980 and headquartered in Fargo, North Dakota, is a multi-unit business with mature locations and newly acquired locations. The Company owns and operates one of the largest networks of full service agricultural and construction equipment stores in North America. Including the Arthur Mercantile Co. acquisition, the Titan Machinery network consists of 66 dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska and Wyoming, including three outlet stores, representing one or more of the CNH Brands (NYSE:CNH) CaseIH, New Holland Agriculture, Case Construction, New Holland Construction, Kobelco and CNH Capital. Additional information about Titan Machinery Inc. can be found at www.titanmachinery.com. Article Date: 05-18-2009 Source: Titan Machinery Copyright(C) 2009 Associated Equipment Distributors. All Rights Reserved. | ||||||
AEDNews is the weekly electronic newsletter published by Associated Equipment Distributors, providing the construction equipment distribution industry with timely news and information related to the equipment business.