True North acquires Evergreen Implement
A North Dakota equipment company will move into Minnesota after acquiring a similar company on the other side of the Red River.
Grand Forks, N.D.-based True North Equipment announced it will acquire Evergreen Implement in June.
Evergreen Implement has stores in Warren, Thief River Falls, Mahnomen and Baudette, Minn. True North also has locations in Grafton, Kennedy and Northwood, N.D. Both companies are major John Deere distributors in the region.
Owners of True North, Dan Gorder and John Oncken, are traveling with one of the owners of Evergreen Implement, Brent Lunke to get to know each other's businesses. The trio spent the first couple of days after announcing the acquisition on April 30 traveling to the companies' locations, sharing information and answering questions from staff.
"We are working together on multiple aspects of the business. Right now we are getting to know each other's staffs better," said Oncken. "We are working on the mechanics of inventory and our fixed assets. We want to get well-placed with everything before the closing date."
No jobs will be lost in the acquisition, Oncken said. The combined businesses will employ about 180 people.
Once the acquisition is complete, the Evergreen name will go away and all signs will be updated, Lunke said.
"What's great about this acquisition is that we have been watching and working with Evergreen Implement for years and they have a great talent base," Gorder said. "Their locations have been mirroring activities we were doing, so it no longer made sense to act separately. Combined, we're creating a new, better entity that is better posed for the future."
Lunke said he feels the customers benefit from this acquisition.
"This past week has shown me the value of the things we can bring to the customer as a team versus two seperate entities," Lunke said. "The customer base will benefit and be better served."