Deere completes Unimil acquisition

Deere & Company (NYSE: DE) has successfully completed its acquisition of Unimil, a prominent Brazilian provider of aftermarket service parts for sugarcane harvesters.

Rhea-AI Summary

Deere & Company (NYSE: DE) has successfully completed its acquisition of Unimil, a prominent Brazilian provider of aftermarket service parts for sugarcane harvesters. This move aims to enhance Deere's commitment to the sugarcane sector in Brazil and offer cost-effective solutions to customers. Unimil, established in 1999, operates from Piracicaba and employs around 430 staff. This acquisition is expected to reshape Deere's operating model and help customers become more profitable and sustainable.

Positive

• Acquisition of Unimil strengthens Deere's position in the Brazilian sugarcane market.
• Expected operational synergies and enhanced customer value through Unimil's offerings.
• Unimil's established reputation may increase Deere's customer confidence.

Negative

• None.

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MOLINE, Ill., Sept. 1, 2020 /PRNewswire/ -- Deere & Company (NYSE: DE) has completed its acquisition of Unimil, a leading Brazilian company in the aftermarket service parts business for sugarcane harvesters.

In October 2019, John Deere announced an agreement to purchase Unimil to further Deere's commitment to the sugarcane business in Brazil as well as its commitment to helping customers reduce their sugarcane production costs. Unimil offers an expanded portfolio of parts and cost-effective solutions for customers.

"Unimil will help John Deere deliver a bold evolution of our business, reshaping our operating model and revolutionizing our production systems in agriculture," said Cory Reed, president of Deere's Worldwide Agriculture and Turf Division in the Americas. "Maximizing customer value is the driving factor, and Unimil provides a unique opportunity to help our customers become more profitable and sustainable across the full lifecycle of our products. Unimil has earned the confidence of customers in the sugarcane parts business by providing excellent products and service."

Based in Piracicaba, São Paulo, Brazil, Unimil was founded in 1999, and has approximately 430 employees. The business will retain its own name and trademark.

About John Deere
Deere & Company (www.JohnDeere.com) is a world leader in providing advanced products, technology, and services for customers whose work is revolutionizing agriculture and construction — those who cultivate, harvest, transform, enrich, and build upon the land to meet the world's increasing need for food, fuel, shelter, and infrastructure. 

View original content:http://www.prnewswire.com/news-releases/deere-completes-unimil-acquisition-301122050.html

SOURCE Deere & Company

FAQ

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What is the significance of Deere's acquisition of Unimil?

The acquisition enhances Deere's presence in Brazil's sugarcane market and improves cost-effective solutions for customers.

When did Deere announce the acquisition of Unimil?

Deere announced the acquisition agreement in October 2019.

How many employees does Unimil have?

Unimil has approximately 430 employees.

Will Unimil retain its brand after the acquisition?

Yes, Unimil will maintain its name and trademark following the acquisition.

What are the expected benefits of the Unimil acquisition for Deere?

The acquisition is expected to drive operational efficiency and increase profitability for customers in the sugarcane industry.