Thursday, March 05, 2015

Home News John Deere and CNW Group reach agreement

John Deere and CNW Group reach agreement

Supplier News

The company is selling its irrigation operations to a private equity firm in Israel.

| March 7, 2014

MOLINE, Ill. -- Deere & Company announced today that it has reached a definitive agreement to sell its irrigation operations to FIMI Opportunity Funds, the leading private equity firm in Israel.

After being involved in the production of irrigation products for seven years, Deere announced in September its intention to seek strategic options for the irrigation operations known as John Deere Water.

Closing is expected in the second quarter of the 2014 calendar year. Terms of the sale are not being made public. BofA Merrill Lynch served as the exclusive financial advisor to Deere for the strategic review.

While Deere is exiting the John Deere Water operations, the company noted that as a part of its John Deere FarmSight strategy, it will continue to develop and offer products and services to help customers improve the overall performance of their farming operations, including the current in-field moisture and climate sensing technology, John Deere Field Connect.

For more information, visit John Deere at www.JohnDeere.com.

Source

Top news

PLANET unveils a new name

Ten years after it was formed, the industry’s national association has updated its name and logo as part of a strategic rebranding.

Free Grounds Guys webinar announced

Landscapers looking for solutions to finding qualified employees can attend the March 4 event.

Ariens reflects on passing of past president

Michael Ariens had recently celebrated his 55th anniversary with the company.

Rules on recruiting

Knowing what to do isn't the challenge faced by executives – finding who to do it is.

New Vermeer mini skid-steer

The CTX50 features a vertical lift path, which allows for an increased lifting capacity.

x