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Titan Machinery Completes Acquisition of Farmers Implement & Irrigation

1. Titan Machinery acquired Farmers Implement & Irrigation, expanding its New Holland presence. 2. The acquisition adds approximately $20 million revenue from Farmers Implement for 2024. 3. This move aligns with Titan's strategic growth initiatives and customer care strategy. 4. CEO highlighted commitment to customer service and maintaining loyal customer relationships. 5. Titan operates in North America, Europe, and Australia with a robust dealer network.

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FAQ

Why Bullish?

This acquisition strengthens market position and potential revenue growth, similar to past successful acquisitions that boosted stock prices.

How important is it?

The acquisition directly affects Titan's revenue stream and strategic positioning, likely influencing investor sentiment positively.

Why Long Term?

The integration of the new dealership will take time, but revenue increase is expected.

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CNHIDEAGCO
May 16, 2025 16:05 ET  | Source: Titan Machinery Inc. WEST FARGO, N.D., May 16, 2025 (GLOBE NEWSWIRE) -- Titan Machinery Inc. (Nasdaq: TITN), a leading network of full-service agricultural and construction equipment stores, today announced that it has completed the acquisition of the dealership assets of Farmers Implement & Irrigation, a two-store New Holland dealership in Brookings and Watertown, South Dakota. The transaction closed on May 15, 2025. For the full calendar year 2024, Farmers Implement & Irrigation generated revenue of approximately $20 million. Bryan Knutson, Titan Machinery Chief Executive Officer, commented, “This acquisition aligns with our strategic growth initiatives and allows us to expand our New Holland presence in the productive eastern South Dakota region. We are honored to build upon the strong foundation that David Gullickson and his family established over his remarkable 53-year career. Their commitment to customer service aligns perfectly with our customer care strategy and has created a loyal customer base that we look forward to serving.” 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 in 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. The international network includes European stores located in Bulgaria, Germany, Romania, and Ukraine and Australian stores located in New South Wales, South Australia, and Victoria in Southeastern Australia. The Titan Machinery locations represent one or more of the CNH Industrial Brands, including Case IH, New Holland Agriculture, Case Construction, New Holland Construction, and CNH Industrial Capital. Additional information about Titan Machinery Inc. can be found at www.titanmachinery.com. Investor Relations Contact:ICR, Inc.Jeff Sonnek, jsonnek@icrinc.comManaging Director646-277-1263

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