A Case IH group of dealerships across the Prairies plans to stake out some new territory by buying an Alberta dealership with three locations north and east of Edmonton.
Rocky Mountain Dealerships announced Thursday it will buy Agritrac Equipment, which operates at Westlock, Barrhead and Vegreville.
“This acquisition is strategically important to the company as it provides synergy for our stores in Vermilion and Grande Prairie,” Rocky Mountain CEO Matt Campbell said in a release.
“The Agritrac locations are contiguous to those two stores in northern Alberta and will improve management, product support and access to inventory.”
The deal is expected to close Jan. 1, bringing Calgary-based Rocky Mountain’s total number of branches across the Prairies to 37.
AgriTrac was founded in 2000 by the company’s Westlock and Barrhead dealerships. According to Rocky Mountain, AgriTrac booked revenues of about $47 million in its fiscal 2010.
Apart from its Case IH business, AgriTrac is also an authorized dealer for Texas-based Reynolds International, which makes scrapers for earthmoving, grading and landforming.
Publicly-traded Rocky Mountain (TSX: RME) did not release the financial terms of the deal Thursday.