The parent company of John Deere, Landscapes, Deere and Company, had stated in October that it would initially retain a 40 percent equity interest in the landscape supply distributor and sell the remainder to Clayton, Dubilier & Rice. The close of the sale was recently announced with no mention of the exact percent of equity interest that was retained. John Deere Landscapes has more than 2,000 employees at approximately 400 locations in 41 states.

Deere & Company recently announced they had sold a majority interest in John Deere Landscapes to the private investment firm of Clayton, Dubilier & Rice. The transaction created a new, freestanding enterprise jointly owned by Deere and CD&R.

"CD&R has been interested in John Deere Landscapes for quite some time and the firm's focus on growth and deep experience with businesses like ours make the firm an ideal partner," says David Werning, CEO of John Deere Landscapes.

Werning went on to state that the fact that his parent company retained some equity ownership is evidence of their plans to remain a part of the landscape industry.

John Deere Landscapes is a wholesale distributor of irrigation, landscape lighting, nursery, turf and maintenance supplies for green industry contractors, and also offers them additional services that support their core businesses.