John Deere Acquires Wirtgen Grou

John Deere Acquires Wirtgen Group
Wirtgen Group is an international company that is leading manufacturer worldwide of road construction equipment.Wirtgen has five premium brands  WIRTGEN, VÖGELE, HAMM, KLEEMANN and BENNINGHOVEN, John Deere has also established its footprint in road construction equipment market. On June 1, 2017, John Deere signs agreement to acquire Wirtgen group, with a deal of around 4.357 billion. The sales of Wirtgen is around EUR 2.6 billion in the year ending December 31, 2016. Deere expects the transaction to be accretive to earnings per share and currently expects to fund the acquisition from a combination of cash and new equipment operations debt financing.
Deere plans to maintain the Wirtgen Group's existing brands, management, manufacturing footprint, employees, and distribution network. The combined business is expected to benefit from sharing best practices in distribution, customer support, manufacturing, and technology as well as in scale and efficiency of operations.