Do I have a legally binding agreement

I own a company that sells Fire Equipment in NC. One of the product lines has protected territories in my state that we currently have 1/2 of. At a trade show toward the end of last year I negotiated with the President of the Company here in the US to take the rest of the state from the current dealer of that territory. He said that if I invested in additional products, that he would eliminate that dealer and assign that to us, we shook hands and that was that. I made the purchase in October of last year, but he has yet to turn the rest of the territory over to us. I have asked him many times and he keeps saying he is going to make it happen. I spoke with him two weeks ago and he said he was going to eliminate them the following Monday, never happened. Do I have a leg to stand on legally since it was a oral agreement?