Deere & Company has announced that it will acquire Wirtgen Group, an international company focused on producing road construction equipment. Wirtgen equipment will be complementary to the John Deere equipment used in the road construction process.
"This transaction enhances our global distribution options in construction equipment and enhances our capabilities in emerging markets,” said Max Guinn, President of Deere's Worldwide Construction & Forestry Division.
Wirtgen Group, which is headquartered in Germany, has five premium brands that span a number of sectors, including milling, processing, mixing and paving. The company has about 8,000 employees and sells its products in more than 100 countries.
"Wirtgen's superb reputation, strong customer relationships and demonstrated financial performance are attractive as we expand the reach of John Deere construction equipment to more customers, markets, and geographies,” said Samuel R. Allen, Deere & Company Chairman and Chief Executive Officer.
The acquisition will further position Deere as an industry leader in global road construction equipment.
Once the deal is complete, Deere will maintain Wirtgen Group’s existing brands, management, manufacturing footprint, employees and distribution network. The acquisition is expected to be completed in the first quarter of Deere’s 2018 fiscal year.
More information about Deere & Company, as well as the construction equipment offered by John Deere, can be found on www.JohnDeere.com.