A New York investment firm is acquiring Alpharetta-based John Deere Landscapes, but parent company Deere & Co. will retain a 40 percent stake in a transaction valued at $465 million.
JDL, which has annual revenue of more than $1 billion, has about 2,000 employees. the company has 150 employees in Georgia, including about 65 in metro Atlanta.
Through its 400 branches, JDL is North America’s largest supplier of wholesale irrigation, landscape lighting, nursery, and turf and maintenance supplies for green industry contractors.
The company is being acquired by Clayton, Dubilier & Rice, a private equity firm whose holdings include Hertz car rental, Culligan water treatment supplies, Sally Beauty supplies and retail and ServiceMaster, whose brands include Merry Maids, Terminix pest control and TruGreen lawn service.
David Werning, president of JDL, said in a statement that Deere is retaining a stake in the company because it still wants to be a part of the company’s success. “CD&R’s focus on growth and deep experience with businesses like ours make them an ideal partner,” Werning said.
CD&R partner Ken Giuriceo said JDL should benefit from the recovery in residential and commercial construction.
Deere & Co. is best known for its commercial and residential mowers and compact tractors. Last month, the Moline, Ill.-based company said it had completed its purchase of Bauer Built Manufacturing Inc., an Iowa-based planter manufacturer.
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