Titan Machinery, a network of full-service agricultural and construction equipment stores, has entered into a definitive agreement to acquire two German companies, AGRAM Landtechnikvertrib and AGRAM Landtechnik Rollwitz, consisting of four Case IH agriculture dealership locations. The dealerships are located in Burkau, Altranft, Rollwitz and Gutzkow. In its most recent fiscal year, AGRAM generated revenue of about $30 million.
The acquisition is expected to close in July.
“We are excited to expand our international presence into the large, stable and well-established markets of Germany,” said David Meyer, Titan Machinery chairman and CEO. “Founded in 1990, AGRAM has been a successful Case IH and Steyr dealership complex.”
Meyer said the dealerships cover a territory stretching over 300 miles of quality farmland bordering Poland and the Czech Republic.