Cervus Equipment Corp. today announced that it has completed its acquisition of 100% of the shares of Evergreen Equipment Ltd.
With this acquisition, Evergreen Equipment will be rebranded to Cervus Equipment.
"This acquisition demonstrates Cervus' ability to continue to grow its agricultural business in Western Canada in partnership with John Deere," said Graham Drake, President and CEO of Cervus.
"As Evergreen's business operations are similar to Cervus' and its dealerships are adjacent to our existing John Deere locations, we expect a smooth integration. For the past 70 years, Evergreen has grown a strong business across southern Alberta, and Cervus looks forward to building on that success to benefit the entire Evergreen team, as well as their customers and communities."
Established in 1944, Evergreen owns four John Deere dealerships located in Bassano, Brooks, Drumheller and Hanna, Alberta that sell new and used agricultural equipment and offer equipment parts and servicing.
Over the last three fiscal periods, Evergreen reported average gross revenue of more than $87 million per year.
"With the strength of the entire Cervus organization behind us, we will continue to enhance the John Deere offering in our communities to meet the growing needs of our customers, employees and partners," said Mark Jones, General Sales Manager, Evergreen Equipment Ltd.