Titan Machinery Inc. (NASDAQ:TITN) announced today that it has closed on the previously announced acquisition of Jewell Implement Company, Inc., consisting of one Case IH agriculture equipment dealership located in Jewell, Iowa.
Jewell Implement is located among the fertile farmland of Central Iowa and complements Titan Machinery's existing dealerships in Iowa, including its nearby Iowa Falls store. In its most recently reported fiscal year, Jewell Implement generated revenue of approximately $9.8 million.
About Titan Machinery Inc.
Titan Machinery Inc., founded in 1980 and headquartered in West Fargo, North Dakota, is a multi-unit business with mature locations and newly-acquired locations. The Company owns and operates a network of full service agricultural and construction equipment stores in the United States and Europe. Upon the closing of the AgroExpert acquisition, the Titan Machinery network will consist of 91 North American dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska, Wyoming, Wisconsin, as well as 2 European dealerships in Romania. The Titan Machinery dealerships represent one or more of the CNH Brands ((NYSE: CNH), a majority-owned subsidiary of Fiat Industrial (Milan: FI.MI)), including Case IH, New Holland Agriculture, Case Construction, New Holland Construction, Kobelco and CNH Capital. Additional information about Titan Machinery Inc. can be found at www.titanmachinery.com.