Deere and Company says it completed all the requirements to acquire a German company that makes road construction equipment. Regulators in more than 20 countries had to review and approve the deal that’s worth $5.2 billion before it became final.
Deere spokesman, Ken Golden, says the Wirtgen Group has factories in Brazil, China and India as well as German. “It is clearly the biggest acquisition in Deer’s history by about nine times,” Golden says,”and it fits right in with the strategy of John Deer to grow two major global businesses — agriculture and construction.”
Wirtgen employs 8,200 people and that doubles the size of the workforce in construction and forestry at Deere. Golden says it’s rare for Deere or any company to find another one to buy that has a similar culture, with no overlap in products.