Deere & Company Completes Acquisition of LESCO
08 May 2007 - 8:05AM
PR Newswire (US)
MOLINE, Ill., May 7 /PRNewswire-FirstCall/ -- Deere & Company
(NYSE:DE) announced today that it has completed its acquisition of
LESCO, Inc. (NASDAQ:LSCO), an Ohio-based company and a leading
supplier of lawn care, landscape, golf course and pest control
products. The transaction was closed today. (Logo:
http://www.newscom.com/cgi-bin/prnh/20030326/JOHNDEERELOGO ) Deere
and LESCO had announced a definitive merger agreement in February.
Deere said the transaction roughly doubles the number of store
locations for John Deere Landscapes with the addition of LESCO's
345 stores and 114 Stores-on-Wheels, strengthening its presence
across the U.S., especially in the eastern seaboard states. The
combination of LESCO and John Deere Landscapes will significantly
increase the volume of consumable products sold by John Deere
Landscapes; will expand the customer base for both LESCO and John
Deere Landscapes products and services; and will complement John
Deere's work in the Golf & Turf One Source business, which
focuses on bringing total solutions to those who maintain golf
course properties. John Deere (Deere & Company -- NYSE: DE) is
the world's leading provider of advanced products and services for
agriculture and forestry and a major provider of advanced products
and services for construction, lawn and turf care, landscaping and
irrigation. John Deere also provides financial services worldwide
and manufactures and markets engines used in heavy equipment. Since
it was founded in 1837, the company has extended its heritage of
integrity, quality, commitment and innovation around the globe.
http://www.newscom.com/cgi-bin/prnh/20030326/JOHNDEERELOGO
http://photoarchive.ap.org/ DATASOURCE: Deere & Company
CONTACT: Ken Golden, Director, Strategic Public Relations of Deere
& Company, +1-309-765-5678 Web site: http://www.deere.com/
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