Deere Finds Buyer For Irrigation Business
Deere & Co. announced it has reached a definitive agreement to sell its irrigation operations to FIMI Opportunity Funds, a private equity firm in Israel. After being involved in the production of irrigation products for seven years, Deere announced in September its intention to seek strategic options for the irrigation operations known as John Deere Water.
Closing is expected in the second quarter of the 2014 calendar year. Terms of the sale are not being made public.