Titan Machinery Inc. (TITN) announced that it has closed on the previously announced acquisition of VAIT D.o.o., which consists of one CaseIH dealership in the Vojvodina region of Serbia.
Serbia is contiguous to Romania and Bulgaria, where Titan Machinery's other international dealerships are located. In its most recently reported fiscal year, the CaseIH dealership being acquired reported revenue of about $8.5 million, Titan noted.
David Meyer, Titan Machinery's Chairman and CEO, said, "We are excited to expand our operations into Serbia. We look forward to working with our newly acquired dealership's management and sales team as we apply the Titan Machinery operating model to our newest international location."
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