NEW YORK, N.Y. - Clayton, Dubilier & Rice (CD&R) has announced an agreement under which CD&R will acquire John Deere Landscapes, a unit of Deere & Company's Agriculture & Turf segment. Deere will initially retain a 40 percent ownership stake in the new standalone company.
With over $1 billion in annual revenue, JDL is the largest North American distributor of landscaping products sold primarily to professional landscape contractors for use in residential and commercial settings. Operating over 400 branches in the United States and Canada, JDL is the only national distributor in a highly fragmented industry. JDL distributes wholesale irrigation, landscape lighting, nursery and turf and maintenance supplies. Some turf and maintenance products are sold under the JDL-owned LESCO brand.
Paul Pressler, a CD&R operating partner, will assume the role of chairman upon the close of the transaction, expected in December.
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