Cervus Equipment Announces Acquisition of John Deere Dealership from J.B. Scott Pty Ltd.
CALGARY, Alberta (September 14, 2020)
-- Cervus Equipment today announced it has signed an agreement for the acquisition of the John Deere dealership owned by J.B. Scott Pty Ltd., subject to due diligence and other conditions, with an anticipated settlement date of September 30, 2020. J.B. Scott currently operates its John Deere dealership in North Geelong, Victoria, Australia.
Cervus Equipment plans to relocate the John Deere dealership to 345 Princes Highway in Colac, Victoria, with a grand opening planned for November 2020. Between finalizing the acquisition on the 30th of September 2020 and opening the Colac location, Cervus Equipment will provide support to the J.B. Scott customer base from its existing locations.
“We are excited to bring John Deere to Colac and increase our dealership network across Victoria. A John Deere presence in Colac has been absent for too long and we look forward to establishing ourselves within the Colac community,” said Tim Ormrod, Managing Director for Cervus Australia. Through the expanded footprint of Cervus Equipment’s network, customers will enjoy unmatched service and support including access to Southern Victoria’s largest parts inventory and a wide selection of new and pre-owned agricultural equipment.
About Cervus Equipment
Cervus provides equipment solutions to customers in agriculture, transportation, and industrial markets across Canada, Australia, and New Zealand. Throughout its territories and across its diverse markets, Cervus dealerships are united in delivering sales and support of the market-leading equipment our customers depend on to earn a living. The Company operates 63 Cervus dealerships and is the authorized representative of leading equipment brands including: John Deere agricultural equipment; Peterbilt transportation equipment; and Clark, Sellick, Doosan, and JLG material handling equipment. Its common shares are listed on the Toronto Stock Exchange and trade under the symbol "CERV".
For more information please contact:
Angela Lekatsas, President and CEO
Adam Lowther, Chief Financial Officer
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.