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John Deere To Buy LESCO03-27-07 | News

John Deere To Buy LESCO




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LESCO, a Cleveland-based supplier of fertilizer, seed and chemicals for lawn and golf course maintenance, is being purchased by industry giant John Deere.


CLEVELAND – Farm equipment maker Deere and Co. is buying LESCO, a Cleveland-based supplier of fertilizer, seed and chemicals for lawn and golf course maintenance, the two companies announced on February 19.

Deere, based in Moline, IL will pay $135 million for LESCO Inc., which will become part of its John Deere Landscapes, doubling the number of its stores by adding 332 LESCO locations.

“We seek business opportunities that bring new customers to John Deere and that offer new products and services to our existing customers,” said Nate Jones, president of Deere’s commercial and consumer division. “We have a strong commitment to serve professional landscaping and golf course customers.”

With approval by both LESCO shareholders and regulators, the deal is expected to close by the end of June.

Source: www.pjstar.com.

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