MOLINE, Ill., Oct. 14, 2019 /CNW/ -- Deere & Company (NYSE:
DE) has signed an agreement to acquire Unimil, a privately-held
Brazilian company in the aftermarket service parts business for
sugarcane harvesters.
"The decision to acquire this company in the aftermarket parts
business emphasizes our commitment to customers," said Cory Reed, president of Deere's Worldwide
Agriculture and Turf Division in the Americas. "Unimil has earned
the confidence of customers in the sugarcane parts business by
providing excellent service and products."
Unimil, located in Piracicaba, Sao
Paulo, Brazil, was founded in 1999 and has become a
well-recognized provider of sugarcane harvester parts. The company
has approximately 430 employees. Brazil is the number one supplier of sugarcane
in the world, producing approximately one-third of the world's
annual production and nearly twice as much as any other
country.
Reed said the addition of Unimil further illustrates John
Deere's commitment to the sugarcane business in Brazil and a commitment to making investments
that help customers reduce their sugarcane production costs. Deere
recently introduced a new sugarcane harvester that's designed to
significantly reduce production costs. Additionally, through JD
Link, Deere offers connected support to maximize equipment up time
and grower productivity. And now with Unimil, Deere will offer an
expanded portfolio of parts with cost-effective solutions for
customers.
Unimil will retain its current brand name. Deere also plans to
continue the current direct-to-customer business model of selling
Unimil products, while also offering dealers an opportunity to
provide additional services and support to sugarcane customers.
Financial terms of the agreement are not being made public.
Deere said the transaction requires customary regulatory
review.
Deere & Company (www.JohnDeere.com) is a world leader in
providing advanced products and services and is committed to the
success of customers whose work is linked to the land - those who
cultivate, harvest, transform, enrich and build upon the land to
meet the world's dramatically increasing need for food, fuel,
shelter and infrastructure. Since 1837, John Deere has delivered
innovative products of superior quality built on a tradition of
integrity.
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SOURCE Deere & Company