Titan Machinery, a leading network of full-service agricultural and construction equipment stores, today announced that it has entered into a definitive purchase agreement to acquire the Idaho dealership assets of Pioneer Farm Equipment Co. (Pioneer). The acquisition includes five full-line Case IH agriculture dealerships located in southeastern Idaho, two of which are also Case Construction equipment dealerships. For full calendar year 2021, Pioneer generated revenue of approximately $60 million. The acquisition is expected to close in February 2023.

David Meyer, Titan Machinery's Chairman and Chief Executive Officer, stated, We are excited to announce our agreement to purchase Pioneers Idaho dealership assets. The Pioneer team has been serving customers in the highly productive Snake River Valley area in southeastern Idaho for over two decades. This acquisition represents an ideal opportunity for us to build upon our recent Heartland acquisition, which has an established presence in the region with commercial application equipment customers. Further, this growing region was of particular interest to us given it supports large industry volumes and has similar crops and machine specifications to other markets served by Titan Machinery. We share similar cultures that are focused on attentive, personal, and customer service and we look forward to welcoming their team to the Titan Machinery family.

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 and Europe, 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 and its European stores are located in Bulgaria, Germany, Romania, and Ukraine. 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.