Deere to Sell Majority Stake in Landscapes Unit

Deere is making a move away from the turf and irrigation business. The company announced it is selling a majority stake in its John Deere Landscapes unit to private equity concern Clayton, Dubilier & Rice for $300 million. Deere will retain a 40% position in the business for the time being.

The landscapes division specializes in the wholesale supply of a variety of outdoor products, including turf, lighting, nursery goods, and materials for irrigation. It was formed in 2001 when Deere bought and merged two companies involved in the sector. 

The divestment is part of Deere's continued efforts to narrow its business to the company's historical core in agricultural and construction machinery.  

At the moment, John Deere Landscapes has over 2,000 employees in 400 locations in 41 states. 


The article Deere to Sell Majority Stake in Landscapes Unit originally appeared on

Fool contributor Eric Volkman has no position in Deere. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.