Titan Machinery (TITN) Agrees to Acquire Two Iowa Farm Equipment Dealerships
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Titan Machinery Inc. (NASDAQ: TITN) announced that it has entered into a letter of intent to acquire the assets of Oskaloosa Implement Co., with two Case IH brand agriculture equipment dealerships located in Pella and Oskaloosa, Iowa. The acquisition is expected to close on November 1, 2009.
Pella and Oskaloosa are adjacent cities located approximately 55 miles southeast of Des Moines and are well-situated to serve Iowa's farming community. In its most recent fiscal year ended December 31, 2008, the two dealerships generated revenue of $16.8 million.
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