The Wirtgen Group to join with Deere & Company
The Wirtgen Group announced that it has signed a definitive agreement with Deere & Company to have Deere acquire the Wirtgen Group: Stefan Wirtgen, managing partner at Wirtgen, said, “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.”
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.
The transaction is subject to regulatory approval in several jurisdictions. The companies said they expect to close on the transaction in the fourth quarter of the 2017 calendar year.