PE Firm Inks $465M Deal For Deere Landscaping Biz

Law360, New York (October 28, 2013, 1:06 PM EDT) -- New York private equity firm Clayton Dubilier & Rice LLC will take majority control of the landscaping products branch of Deere & Co.'s agriculture business in a carveout transaction valued at $465 million, the pair said on Monday.

Under the deal's terms, Deere — famous for its John Deere lawnmower brand — will hold onto a 40 percent stake in the John Deere Landscapes unit, a distributor of landscaping products sold mainly to professional contractors that last year generated $1 billion in revenues. The seller said...
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