TITN - Titan Machinery Announces Acquisition of Scott Supply Co. | Benzinga
WEST FARGO, N.D., Jan. 11, 2024 (GLOBE NEWSWIRE) -- Titan Machinery Inc. (NASDAQ:TITN), a leading network of full-service agricultural and construction equipment stores, today announced that it has acquired the assets of Scott Supply, Co. ("Scott Supply"), which consists of one full-line combined Case IH and New Holland Agriculture dealership located in Mitchell, SD. In the trailing twelve-month period ended December 31, 2023, Scott Supply generated revenue of approximately $40 million. The acquisition closed on January 10, 2024.
David Meyer, Titan Machinery's Chairman and Chief Executive Officer, stated, "This acquisition is a perfect complement to our existing footprint in this highly productive region of eastern South Dakota. Scott Supply has been serving Mitchell, SD and the surrounding area since 1915 with a talented and experienced team of employees and a total commitment to excellence in customer service. As we join together, we aim to build upon that legacy and look forward to a bright future in this excellent market."
About Titan Machinery Inc.
Titan Machinery Inc., founded in 1980 and headquartered in West Fargo, North Dakota, owns and operates a network of full service agricultural and construction equipment dealer locations across three continents –North America, Europe and Australia – servicing farmers, ranchers and commercial applicators. The network consists of: US locations in Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, South Dakota, Washington, Wisconsin and Wyoming; European stores located in Bulgaria, Germany, Romania, and Ukraine; and Australian stores located in ...