PLYMOUTH, Minn., Aug. 9, 2005 (PRIMEZONE) -- Heartland Holdings Inc., (OTCBB:HTLJ) pursuing its earlier stated growth goals, on July 29, 2005, entered into a binding stock purchase agreement with Steven Persinger to acquire all the outstanding issued stock of Persinger Equipment, Inc., a Minnesota corporation, for $4,735,000.
Founded in 1970 and located in Austin, Minn., Persinger is a profitable company with annual sales in excess of $12,000,000. The company deals in John Deere products, and it provides sales and service of John Deere agricultural and consumer products and Polaris snowmobiles and ATVs.
"Persinger is a quality company that will add greatly to our company. They are an established company with a proven sales record. I could not happier about them coming on board," said Trent Sommerville, CEO of Heartland Holdings.
For more information about this transaction, view the filing at http://secnet.wsb.com/EE_RetrieveWatch.pl?cv=714729fc6c94e2284578b6786.
About Heartland Inc.
A growing diversified holding company, Heartland's subsidiaries span heavy machining and fabricated steel products to specialized machinery to organic fertilizers. Heartland's breadth of product and service offerings provides economic protection and growth opportunities for investors. Information is available by calling 763-557-2900 or by e-mailing info@heartlandholdingsinc.com.
Safe-Harbor
Statement Under the Private Securities Litigation Reform Act of 1995 this press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding any potential sales of products as well as statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Heartland Inc. to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Heartland's annual report on Form 10-K for the fiscal year ended December 31, 2003 and any subsequent reports filed with the Securities and Exchange Commission under the Exchange Act. This press release speaks as of the date first set forth above and Heartland assumes no responsibility to update the information included herein for events occurring after the date hereof.
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