Titan to buy trio of Toner's dealerships

WEST FARGO, N.D. -- Titan Machinery Inc. said Tuesday that it reached a deal to buy Toner's Inc., which includes three CaseIH agricultural equipment dealerships in Nebraska.

Financial terms of the acquisition, expected to close on or around Nov. 1, were not disclosed. Toner reported revenue of about $44.5 million for its most recent fiscal year.

Titan said the dealerships are located in a diverse agriculture and livestock market. The trio also offers cost savings opportunities with Titan's existing stores in a nearby Nebraska town, the company said.

Titan shares rose 71 cents, or 3.5 percent, to $21.14 in afternoon trading.