Rocky Mountain Dealerships Announces Agreement to Buy Manitoba Agriculture Equipment Dealership; Shrs Hit Yr Highs Thursday
Rocky Mountain Dealerships Inc. (RME.TO), which hit year highs Thursday, announced today that it has entered into an agreement to purchase 100% of the issued and outstanding shares of MJ Solomon Ltd., operating as 'Murray's Farm Supplies', a dealer of various equipment brands including Bourgault, MacDon, and other short-lines. Murray's operates two dealerships located in Shoal Lake and Russell, Manitoba. No financial details were provided.
For the most recent fiscal year, Murray's had revenues of approximately $15 million. This acquisition is expected to close effective February 1, 2013, and be completed through existing cash or credit facilities.
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