Deal will expand company's precision agriculture business, help customers increase productivity
MOLINE, Ill.—Deere & Company is taking a big step in the precision agriculture industry. The U.S.-based tractor maker has agreed to buy Monosem Inc., a French precision planter manufacturer, for an undisclosed sum.
“Through this action, we continue to build on our leadership position in precision agriculture,” John May, president of Agricultural Solutions and Chief Information Officer at Deere, said. “Monosem is admired for its innovation and success in precision planter technology that helps farmers increase production. Acquiring this market leader positions John Deere to serve more customers worldwide.”
The deal includes Monosem’s four facilities in France and two in the U.S.
Monosem has been a family-owned enterprise through three generations since its 1948 founding, and Deere does not intend to change its “independent nature.” May added the company will retain its own brand and trademark.
Meanwhile, Deere said the acquisition will increase its ability to help its customers increase their productivity.