FARGO, NORTH DAKOTA - Titan Machinery Inc. (NASDAQ:TITN) announced today that it has closed on the previously announced acquisition of certain assets of Fairbanks International Inc. and its affiliates. The acquisition includes six dealerships that offer one or more of the Case IH, New Holland Agriculture and New Holland Construction brands. These dealerships are located in Grand Island, Kearney, Lexington, Holdrege, Hastings, and North Platte, Nebraska.
Fairbanks International was founded in 1910 and has been selling equipment for over a century. The six dealerships in the Fairbanks International network are well-situated along the I-80 corridor in Nebraska, which is some of the most productive agriculture land in the world. Fairbanks acquisition marks Titan Machinery’s first agriculture dealerships in Nebraska and complements its construction equipment dealerships in Omaha and Lincoln, Nebraska. In its most recently reported fiscal year ended December 31, 2009, Fairbanks International and its acquired affiliates generated revenues of approximately $85 million.
SOURCE: Titan Machinery Inc.