Titan Machinery last week said it has entered into a letter of intent to acquire the assets of Oskaloosa Implement Co., with two Case IH-brand agriculture equipment dealerships located in Pella and Oskaloosa, Iowa. The acquisition is expected to close Nov. 1.

Pella and Oskaloosa are adjacent cities located 55 miles southeast of Des Moines and are well-situated to serve Iowa’s farming community, Titan said. The two dealerships generated revenue of $16.8 million in 2008.

“We are excited about our newest dealerships in south central Iowa,” said David Meyer, Titan Machinery chairman and CEO. “Iowa is an extremely important agriculture state, and we are pleased to be strengthening the Titan Machinery brand in this key market.”

Titan Machinery is based in Fargo, N.D., and has a network of 70 dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska and Wyoming.