Apr. 1, 2011 (Canada NewsWire Group) --
Issued: 18,708,400 shares
CALGARY, April 1 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky") (TSX: RME) announced today that it has closed the previously announced agreement to purchase 100% of the outstanding shares of J&B Equipment Ltd. ("J&B"), a Case IH agriculture dealership operating in Kindersley, Saskatchewan. The acquisition was funded with cash and 84,086 common shares of Rocky.
J&B will operate under Rocky Mountain Dealer Group Partnership ("RMDGP"), through its Miller Equipment division. RMDGP is a wholly owned subsidiary of Rocky.
Rocky's CEO, Brian Taschuk, remarked, "This acquisition gives Rocky our first exposure in western Saskatchewan, an important agriculture market. J&B is a well established Case IH agricultural location with good opportunity for revenue growth as part of the Rocky network. We have added four locations in 2011, reaching our target number of acquisitions for the year, continuing the consolidation efforts of CNH dealers in western Canada."
About Rocky
Rocky is one of Canada's largest agriculture and construction equipment dealerships, with 38 branches throughout Alberta, Saskatchewan, and Manitoba. 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