The sale of three Case IH farm implement dealerships in Spencer, Estherville and West Bend, Iowa, is expected to close early next week.
Randy Hinton, of Bancroft Implement, the CaseIH dealership in Bancroft, Iowa, and his children, Angela Spangenberg, Jamie Knorr, Rob Hinton, Abbie Meyer and Joe Hinton, are purchasing the locations from West Bend International.
Hinton, 62, has six other Case IH dealerships in Humboldt, Mason City, Manson, New Hampton, Corwith, and Greene, which was the last dealership he acquired in 2012. Hinton's organization was founded in Bancroft 41 years ago, by his father, Jim Hinton.
Hinton said he has about 160 employees.
The purchase price was not disclosed.
Hinton said he has always wanted the three locations operated by West Bend International, and looks forward to continued expansion of his Case IH dealerships with his children.
"They better be running if they're going to keep up to me," Hinton said. "I have not thought whatsoever of retirement."
One of Hinton's most successful dealerships is in Mason City, where last year he constructed a new 64,000-square-foot shop the size of a football field. That shop, he said, has seen more than a ten-fold increase in sales since it was acquired in 2002. Since he bought the business in 2001, sales increased to $43 million, from $4 million, he said.
Hinton said there are several advantages for customers at a multi-location dealership. "Not only do we have a much larger equipment inventory than you'll find in any one location, but our parts inventory far exceeds what any one store might have on hand, allowing us to provide much better customer service," he said.