Deere & Company have signed a definitive agreement to acquire the Wirtgen Group.
Wirtgen, which has five premium brands across the entire road construction segment spanning processing, mixing, paving, compaction and rehabilitation has more than 8,000 employees globally and sells products in more than 100 countries.
Deere plans to maintain the Wirtgen Group’s existing brands, management, manufacturing footprint, employees, and distribution network. The combined business is expected to benefit from sharing best practices in distribution, manufacturing and technology as well as in scale and efficiency of operations.
Stefan Wirtgen, managing partner at Wirtgen, told Business Link, “The Wirtgen Group has a legacy of technology and innovation with market-leading products and a strong focus on the customer. As we looked to the future, we specifically chose Deere as the buyer because of our long-held respect for the organization and our full confidence that Deere is dedicated to the ongoing success of the Wirtgen Group and our employees worldwide.”
Jürgen Wirtgen, managing partner at Wirtgen, added, “Our company’s strength and success comes from dedicated employees, who are focused on helping customers succeed in the road construction industry. We believe this transaction allows the company to be successful well into the future – independent of our family ownership.”
Samuel R. Allen, Deere & Company chairman and chief executive officer, adds, “The Wirtgen Group’s superb reputation, strong customer relationships and demonstrated financial performance are attractive as Deere expands its reach in construction equipment to more customers, markets and geographies.”
Max Guinn, president of Deere’s construction and forestry division, said, “The Wirtgen Group strengthens Deere’s strong position in the construction equipment industry, enhances our ability to serve customers across the globe and improves Deere’s competitive position through the addition of market-leading products.”