Clayton, Dubilier & Rice, a large private equity firm, has agreed to acquire John Deere Landscapes, a unit of Deere & Company. Deere will initially retain a 40% ownership stake in the new standalone company. The carve-out transaction is valued at approximately $465 million. John Deere Landscapes has more than $1 billion in annual revenue and operates about 400 branches in the US.
Among CD&R’s other major investments is The Servicemaster Company, parent of the TruGreen Lawncare and Terminix brands.