North Dakota Auctioneer Acquired by Ritchie Bros.

Wed February 08, 2006 - National Edition

Ritchie Bros. Auctioneers Incorporated has announced the completion of the acquisition of the auction business of Dennis Biliske Auctioneers, a North Dakota-based auctioneer of agricultural equipment and real estate — including a 25-acre agricultural auction facility.

This acquisition is part of an initiative intended to further establish Ritchie Bros.’ presence in the agricultural equipment and land auction markets in the United States.

Dennis Biliske, auctioneer and president of Dennis Biliske Auctioneers, now leads Ritchie Bros.’ agricultural operations in North Dakota, Minnesota and the surrounding region.

“The addition of Dennis Biliske and his team to the Ritchie Bros. organization is an important venture into the very large and fragmented U.S. agricultural equipment and real estate auction markets,” said Peter Blake, chief executive officer of Ritchie Bros. Auctioneers. “Dennis has always had a customer-focused business, which is an excellent fit with our organization.”

Dennis Biliske, area manager of Ritchie Bros. Auctioneers, said. “We are looking forward to introducing Ritchie Bros. unreserved auctions to our customers. We will continue to serve the marketplace, conducting both small and large unreserved auctions at our location or theirs. As always, we are able to offer guarantees and outright purchases, as well as traditional straight commission sales. By joining forces, our customers will now have access to a global market. It’s a win-win situation for everyone involved.”

Kevin Tink, Ritchie Bros. vice president of the Canada and U.S. Agricultural Division, commented, “The farming community, as well as Biliske customers, will see a seamless transition. The same faces will be present, committed to maximizing sale results through the services and benefits that the Ritchie Bros. network has to offer. As Dennis suggested, this is a win-win for our customers and for our company.”

The Ritchie Bros. 2006 auction calendar starts in Phoenix, AZ in February. More than 90 other auctions are already scheduled for 2006 including more than 60 agricultural auctions in Canada and the United States. The first auction to be held at the Buxton, ND, facility is scheduled to take place on Feb. 23, 2006.

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