Deere and Company announced on March 29 that it has entered an agreement with Hagie Manufacturing, a U.S.-based high-clearance sprayer manufacturer. As a part of the deal, Deere will now have majority ownership of the company, which will continue to produce sprayers in Clarion, Ia.
"Hagie Manufacturing is known for innovation and its strong customer understanding in high-clearance spraying equipment," said John May, president of Agricultural Solutions and Chief Information Officer at Deere. "High-clearance spraying equipment is a new market for Deere. The expertise at Hagie allows John Deere to immediately serve customers who need precision solutions that extend their window for applying nutrients."
The equipment created under the agreement will continue to carry the Hagie brand. Sales and service for Hagie equipment will be integrated into Deere’s global distribution channel over the course of the next 15 months.
“We have great products at Hagie that help producers be more profitable but we need a business model that helps us reach more customers,” said Alan Hagie, chief executive officer of Hagie Manufacturing. “This partnership with Deere allows our solutions to reach customers on a global scale and ensure they are supported with the world-class Deere dealer organization."
Hagie Manufacturing is dedicated to providing crop protection solutions to drive economic benefits for its agricultural customers. NCP, Inc., was the exclusive financial advisor involved in the transaction with Deere and Company.