“Completing this purchase establishes John Deere Landscapes as the clear national leader in the irrigation business,” said John Jenkins, president of John Deere’s Worldwide Commercial and Consumer Equipment Division. “It solidifies our plan to expand overall service and products to customers in the landscaping and irrigation business.”
The deal closed on Oct. 3 and also included the Richton Technology group, which provides computer hardware, software and systems support. While Deere stated in a press release that it will combine the Century Supply distribution business with its previously acquired McGinnis Farms business into John Deere Landscapes, Inc., it says it is still evaluating the strategic options for the information technology groups.
Under the terms of the agreement, Richton stockholders were entitled to receive either cash or common stock of Deere, depending on stockholders’ elections.