Hagie partners with John Deere - Deere acquires majority share of company

On Tuesday, Deere and Company (the makers of John Deere tractors) announced that it had acquired a majority share in Hagie Manufacturing. Both companies are calling the change a “joint venture.”

Hagie will continue to operate at its Clarion location and use its own brand, but over the next 15 months, sales and distribution for the local company will be integrated into Deere’s global dealer network, allowing Hagie equipment to reach a wider customer base. Alan Hagie, chief executive officer, said, “We have great products at Hagie that help producers be more profitable, but we need a business model that helps us reach more customers. This partnership with Deere allows our solutions to reach customers on a global scale and ensure they are supported with the world-class Deere dealer organization.”

The arrangement helps Deere to sell more high-clearance sprayers, the product area in which Hagie leads the country. “High-clearance spraying equipment is a new market for Deere. The expertise at Hagie allows John Deere to immediately serve customers who need precision solutions that extend their window for applying nutrients,” said John May, president, Agricultural Solutions and Chief Information Officer at Deere.

For the full story, see the March 31 edition of the Monitor.