Deere to sell majority interest in landscapes business to Clayton, Dubilier & Rice

Deere to sell majority interest in landscapes business to Clayton, Dubilier & 
Rice 
MOLINE, Ill., Oct. 28, 2013 /CNW/ - Deere & Company (NYSE: DE) has agreed to 
sell a majority interest in its landscapes business to the private equity 
investment firm of Clayton, Dubilier & Rice, LLC.  John Deere Landscapes has 
been included in Deere's agriculture and turf segment.  As a result of the 
transaction, Deere will receive approximately $300 million in cash and will 
initially retain a 40 percent equity interest in the business. 
"This partial sale allows Deere an opportunity to remain as part of a 
successful landscapes distribution business," said James Field, president of 
Deere's Worldwide Agriculture & Turf Division.  "At the same time, Deere will 
continue to increase its own strategic focus on the global growth businesses 
in agriculture and construction and the complementary businesses in turf and 
forestry. " 
Deere formed the landscapes business in 2001 when it purchased and merged two 
companies that sold wholesale landscape supplies and irrigation products. Two 
other acquisitions were later added and now John Deere Landscapes is one of 
the largest U.S. wholesale suppliers of turf and ornamental agronomics, 
irrigation, outdoor lighting, nursery, and landscape materials. 
Field said Deere recognized CD&R's broad experience and successful record in 
distribution businesses and the firm's longevity and experience in private 
equity. John Deere Landscapes has more than 2,000 employees at approximately 
400 locations in 41 states. 
Deere & Company is a world leader in providing advanced products and services 
and is committed to the success of those whose work is linked to the land -- 
those who cultivate, harvest, transform, enrich and build upon the land to 
meet the world's dramatically increasing need for food, fuel, shelter and 
infrastructure. Since 1837, John Deere has delivered innovative products of 
superior quality built on a tradition of integrity. For more information, 
visit John Deere at its worldwide website at www.JohnDeere.com.
 

SOURCE  Deere & Company 
Ken Golden, Director, Global Public Relations, Deere & Company, 309-765-5678 
http://www.deere.com 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/October2013/28/c7608.html 
CO: Deere & Company
ST: Illinois
NI: AGR  
-0- Oct/28/2013 13:01 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.