MOLINE — John Deere is in the process of making another foreign acquisition.
Deere & Co. announced Monday it has signed an agreement to acquire Unimil, a privately-held Brazilian company in the aftermarket service parts business for sugarcane harvesters.
Unimil, located in Piracicaba, Sao Paulo, Brazil, was founded in 1999 and has become a well-recognized provider of sugarcane harvester parts. The company has approximately 430 employees. Brazil is the No. 1 supplier of sugarcane in the world, producing approximately one-third of the world’s annual crop and nearly twice as much as any other country.
“The decision to acquire this company in the aftermarket parts business emphasizes our commitment to customers,” said Cory Reed, president of Deere’s Worldwide Agriculture and Turf Division in the Americas said in the company’s release. “Unimil has earned the confidence of customers in the sugarcane parts business by providing excellent service and product.”
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Deere did not disclose the cost of the acquisition.
Reed said the addition of Unimil further illustrates John Deere’s commitment to the sugarcane business in Brazil and a commitment to making investments that help customers reduce their sugarcane production costs. Deere recently introduced a new sugarcane harvester that’s designed to significantly reduce production costs.
Deere’s last acquisition was also of a foreign company when it acquired PLA, a privately-held manufacturer of sprayers, planters and specialty products in Argentina in July of 2018.