Titan Machinery Inc., a network of full-service agricultural and construction equipment stores, announced that it has entered into a definitive purchase agreement to acquire the assets of Jaycox Implement Inc., which consists of three full-line Case IH agriculture dealerships located in Worthington, Minn., Luverne, Minn., and Lake Park, Iowa.

In the trailing 12-month period ended June 30, 2021, Jaycox generated revenue of approximately $91 million. The acquisition is expected to close in December 2021 and be immediately accretive to earnings per diluted share.

David Meyer, Titan Machinery's chairman and chief executive officer, stated, "The acquisition of the Jaycox dealership network in southwestern Minnesota and northwestern Iowa is a perfect complement to our existing footprint in the heart of this highly productive region. Jaycox has been a fixture in this market since 1956, has a talented and experienced team of employees, excellent population of Case IH equipment and is well-known for their focus on customer service. We aim to build upon that legacy with our added resources and look forward to integrating their team and customers into the Titan family."

For more information, visit www.titanmachinery.com.

This story also appears on Agricultural Equipment Guide.

Today's top stories

World of Concrete Hosts Thousands for 51st Annual Event

A.M. Higley Jams On $135M Rock & Roll Hall of Fame Expansion

Caterpillar to Offer Cat Limited Edition Machines to Honor Centennial Celebration

USACE Works to Stabilize Banks of Missouri River

Skanska Brings Engineering Muscle to Manage Bridge Jobs in Bay State

Volvo Construction Equipment Unveils New Lineup of Articulated Haulers

Ogunquit, Maine, Officials Scale Down $11.9M Municipal Campus Construction Amid Cost Overruns

AED Members Gather in Orlando, Fla., For Annual Summit/CONDEX