Canada’s biggest group of John Deere ag equipment dealerships plans to build rather than buy for its next outlet.
Cervus Equipment Corp. announced last Thursday that it’s bought 21.6 acres of land just north of Calgary’s city limits for $8.52 million.
The land was bought from an "arm’s length party," Cervus said, with the plan of building a new location to house its Calgary-and-area Deere equipment dealership.
The company’s current Calgary ag and turf equipment dealership, part of its Agro Equipment arm, is on 23rd Avenue Northeast, on the east side of the city.
Calgary-based Cervus said it plans to use only about half the land for the new dealership site and will subdivide and sell the remainder.
That subdivision plan assumes "suitable buyers" are found and the properties can be sold on "reasonable terms," the company said.
Cervus now owns and manages dealerships at 35 locations in the four western provinces and six in New Zealand, mainly in Deere ag equipment but also in Bobcat and JCB construction equipment, forklift and handler brands such as Clark, Sellick, Nissan and Doosan, and Peterbilt trucks.
The publicly traded company also owns a 20 per cent stake in Maple Farm Equipment, which runs seven Deere ag dealership outlets in Saskatchewan and Manitoba.