Deere Substantially Completes Sale of John Deere Water Operations

Deere & Company has announced it has substantially completed the sale of its irrigation operations pending certain regulatory approvals.

The company reported it had reached a definitive agreement to sell the John Deere Water operations to FIMI Opportunity Funds, a private equity firm in Israel, back in February.

Deere & Company started reviewing its irrigation options strategy, John Deere Water, back in September of last year. The company partnered with Bank of America Merrill Lynch to help with the initiative.

Terms of the transaction were not made public.