Cervus Equipment increases stake in Australian farm equipment dealer
By Cervus Equipment Corp.
News
July 30, 2013 – Cervus Equipment Corp., which invests in dealerships that handle a variety of brands such as John Deere, Bobcat, Clark and Nissan, has raised its ownership stake in an Australian agriculture dealership to 53.3 per cent. The Calgary-based equipment dealer said Tuesday it paid about $500,000 to buy an additional 18.6 per cent of Windmill AG Pty Ltd., which has five John Deere locations in the state of Victoria in Australia.
July 30, 2013 – Cervus Equipment Corp., which invests in dealerships that handle a
variety of brands such as John Deere, Bobcat, Clark and Nissan, has raised its
ownership stake in an Australian agriculture dealership to 53.3 per cent. The Calgary-based equipment dealer said Tuesday
it paid about $500,000 to buy an additional 18.6 per cent of Windmill AG Pty
Ltd., which has five John Deere locations in the state of Victoria in
Australia.
Cervus acquires and manages authorized agricultural, commercial, industrial and
transportation equipment dealerships. It has interests in 55 dealership
locations in Western Canada, New Zealand
and Australia.
“Cervus established operations in Australia nearly a year ago as part of our
strategy to pursue opportunities in new markets,” said Graham Drake, Cervus
president and chief executive said in a
statement. “Cervus' acquisition of an additional interest in Windmill follows
our successful integration of the business and reflects our growth strategy of
consolidating dealerships in Australia, where we
see further opportunities for growth.“
Related Link
www.cervuscorp.com
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