Feb. 8, 2011 (Canada NewsWire Group) --
Issued: 18,482,316 shares
CALGARY, Feb. 8 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky"), announced today that it has entered into an agreement (the "Agreement") to purchase 100% of the outstanding shares of J&B Equipment Ltd ("J&B"), a Case IH agriculture dealership operating in Kindersley, Saskatchewan.
For the most recent fiscal year ended October 31, 2010, J&B had revenues of approximately $18 million. This acquisition is expected to close effective April 1, 2011.
Rocky's CEO Brian Taschuk remarked, "This is a strategically important acquisition for Rocky as it marks our entry into the important Western Saskatchewan market. It will allow for better continuity, management, product support, and inventory access between our Hi-Way Service stores in Alberta, and our Miller Equipment stores in Eastern Saskatchewan and Manitoba."
Forward Looking Statements
The Agreement contains a number of conditions to closing and, as such, there is the possibility that this acquisition may not ultimately be completed.
About Rocky
Rocky is one of Canada's largest agriculture and construction equipment dealership networks with 38 branches (including J&B) throughout Alberta, Saskatchewan, and Manitoba. Through its subsidiaries, Rocky sells, rents, and leases new and used agriculture and construction equipment and offers product support and finance.
Additional information on Rocky is available at www.rockymtn.com and on SEDAR at www.sedar.com.
Rocky Mountain Dealerships Inc.
Brian Taschuk, Chief Executive Officer; or
Garrett Ganden, Chief Financial Officer
828 - 46th Avenue S.E.
Calgary, Alberta T2G 2A6
Telephone: (403) 243-8600, Fax (403) 243-2264