Bloomberg News

CD&R to Buy Stake in John Deere Landscapes in $465 Million Deal

October 28, 2013

Clayton Dubilier & Rice LLC agreed to buy a majority stake in Deere & Co. (DE:US)’s landscaping business in a transaction valued at $465 million, betting on a revival of property construction.

CD&R will buy a 60 percent stake in John Deere Landscapes, which will become a standalone company, according to a statement today from New York-based CD&R. Deere will receive $300 million in cash as part of the transaction, Moline, Illinois-based Deere said in a separate statement.

“The new company should benefit from a recovery in residential and commercial construction activity as well as through the meaningful value-creation opportunities,” Ken Giuriceo, a partner at CD&R, said in the statement.

CD&R, run by Donald Gogel, has completed deals valued about $90 billion since its founding as a leveraged buyout firm in 1978. Deere started its landscape business in 2001 to supply turf, irrigation, lighting and other materials for outdoor construction. John Deere Landscapes has more than $1 billion in annual revenue, according to CD&R.

To contact the reporter on this story: Devin Banerjee in New York at

To contact the editor responsible for this story: Christian Baumgaertel at

The Good Business Issue

Companies Mentioned

  • DE
    (Deere & Co)
    • $90.38 USD
    • 0.12
    • 0.13%
Market data is delayed at least 15 minutes.
blog comments powered by Disqus