Rocky Mountain Dealerships Inc.
TSX : RME

Rocky Mountain Dealerships Inc.

September 01, 2010 17:57 ET

Rocky Mountain Dealerships Inc. Announces Acquisition of Allen's Agrocentre Ltd.

CALGARY, ALBERTA--(Marketwire - Sept. 1, 2010) - Rocky Mountain Dealerships Inc. (TSX:RME) ("Rocky Mountain" or the "Company") announced today that it has purchased 100% of the outstanding shares of holding companies owning Allen's Agrocentre Ltd ("Allen's"), a Case IH agriculture dealership in Oyen, Alberta. The Company issued 20,000 common shares of Rocky Mountain as part of the transaction. Allen's will operate as a branch location of Hi-Way Service Ltd. ("Hi-Way"), a wholly owned subsidiary of Rocky Mountain. 

In the fiscal year ended October 31, 2009, Allen's had top-line revenues of approximately $5.8 million. This location completes Rocky Mountain's coverage in the area between its Drumheller branch and the Saskatchewan border giving customers continuous support across south central Alberta.

Including this branch, 17 locations have been added to Rocky Mountain since the initial public offering in December 2007, bringing the Company's total number of branches to 30. 

Commenting on the acquisition, Matt Campbell, Chairman and Chief Executive Officer of Rocky Mountain, said "This acquisition will open up new markets for Rocky, particularly in used equipment, and allows us to continue expansion north and east of our current trading area. The management of Allen's will continue to operate this location for Rocky adding continuity and management depth." 

About Rocky Mountain

Rocky Mountain represents one of Canada's largest agriculture and construction equipment dealerships with a total of 30 dealership branches throughout Alberta, Saskatchewan and Manitoba. Rocky Mountain sells, rents, and leases new and used construction and agriculture equipment as well as offering product support and finance and insurance products to its customers. 

Additional information on Rocky Mountain is available on our website at www.rockymtn.com and on SEDAR at www.sedar.com.

Issued: 18,277,849 shares

Contact Information

  • Rocky Mountain Dealerships Inc.
    M.C. (Matt) Campbell
    Chairman and Chief Executive Officer
    (403) 243-8600
    or
    Rocky Mountain Dealerships Inc.
    Brian Taschuk
    Chief Operating Officer
    (403) 243-8600
    or
    Rocky Mountain Dealerships Inc.
    Garrett Ganden
    Chief Financial Officer
    (403) 243-8600
    or
    Rocky Mountain Dealerships Inc.
    828 - 46th Avenue S.E.
    Calgary, Alberta T2G 2A6
    (403) 243-8600
    (403) 243-2264 (FAX)
    www.rockymtn.com
    or
    Renmark Financial Communications Inc.
    Investor Relations
    John Boidman
    Vice President
    (514) 939-3989
    jboidman@renmarkfinancial.com