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John Deere Purchases Richton to Expand Irrigation Services

November 26, 2001 - National Edition
Construction Equipment Guide

Deere & Company has completed the purchase of Richton International Corporation. The transaction closed recently after approval by Richton’s stockholders. Deere had entered into an agreement to acquire Richton in May 2001.

Richton has two primary lines of business: Century Supply, a distributor of landscape irrigation equipment; and the Richton Technology Group, which includes two providers of computer hardware, software and systems support.

Irrigation equipment sales make up about 80 percent of Richton’s total revenues. Deere will combine the Century Supply distribution business with its previously acquired McGinnis Farms business into John Deere Landscapes Inc.

“Completing this purchase establishes John Deere Landscapes as the clear national leader in the irrigation business,” said John Jenkins, president of John Deere’s Worldwide Commercial and Consumer Equipment Division. “It solidifies our plan to expand overall service and products to customers in the landscaping and irrigation business.”

Deere is currently evaluating the strategic options for Richton’s information technology groups.


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