Steve
02-19-2007, 04:57 PM
WOW what do you think of this? How will this effect prices and the industry?
Deere Agrees To Acquire LESCO, Inc., Leader In Landscape Consumables (http://biz.yahoo.com/prnews/070219/nym026.html?.v=83) - LESCO, a Cleveland, Ohio-based company, is a leading supplier of consumable products, such as fertilizer, seed and chemicals, for lawn maintenance professionals and golf course superintendents. Upon closing, the company will become part of John Deere Landscapes, a leading wholesale distributor of irrigation, nursery, lighting and landscape materials in the United States.
"This plan is consistent with Deere's growth aspirations," said Nate Jones, president, Commercial & Consumer Division. "We seek business opportunities that bring new customers to John Deere and that offer new products and services to our existing customers. We have a strong commitment to serve professional landscaping and golf course customers."
Jeffrey Rutherford, LESCO's president and chief executive officer, said, "We are pleased to announce this transaction, and we believe it enables shareholders to receive the benefit of our efforts to increase shareholder value. In addition, customers of both LESCO and John Deere benefit because of this decision. LESCO, a strong leader in its segment of the market, now joins with John Deere to provide a more complete set of products and services."
The transaction will roughly double the number of store locations for John Deere Landscapes with the addition of LESCO's 332 stores, strengthening its presence across the U.S. and especially in the eastern seaboard states.
"Commercial landscape and lawn care professionals seek business partners who assist them in growing their businesses," said Dave Werning, president of John Deere Landscapes. "The addition of LESCO to our company will enable John Deere Landscapes to continue helping customers be more profitable and productive."
Deere Agrees To Acquire LESCO, Inc., Leader In Landscape Consumables (http://biz.yahoo.com/prnews/070219/nym026.html?.v=83) - LESCO, a Cleveland, Ohio-based company, is a leading supplier of consumable products, such as fertilizer, seed and chemicals, for lawn maintenance professionals and golf course superintendents. Upon closing, the company will become part of John Deere Landscapes, a leading wholesale distributor of irrigation, nursery, lighting and landscape materials in the United States.
"This plan is consistent with Deere's growth aspirations," said Nate Jones, president, Commercial & Consumer Division. "We seek business opportunities that bring new customers to John Deere and that offer new products and services to our existing customers. We have a strong commitment to serve professional landscaping and golf course customers."
Jeffrey Rutherford, LESCO's president and chief executive officer, said, "We are pleased to announce this transaction, and we believe it enables shareholders to receive the benefit of our efforts to increase shareholder value. In addition, customers of both LESCO and John Deere benefit because of this decision. LESCO, a strong leader in its segment of the market, now joins with John Deere to provide a more complete set of products and services."
The transaction will roughly double the number of store locations for John Deere Landscapes with the addition of LESCO's 332 stores, strengthening its presence across the U.S. and especially in the eastern seaboard states.
"Commercial landscape and lawn care professionals seek business partners who assist them in growing their businesses," said Dave Werning, president of John Deere Landscapes. "The addition of LESCO to our company will enable John Deere Landscapes to continue helping customers be more profitable and productive."