Deere Buying Latin American Ag Equipment Manufacturer

Deere & Company reported it has a definitive agreement to acquire PLA, a privately-held manufacturer of sprayers, planters, and specialty machinery for agriculture. Headquartered in Argentina, PLA has manufacturing plants at Las Rosas, Argentina, and Canoas, Brazil.

The terms of the agreement were not announced.

"The PLA acquisition enhances John Deere's commitment to customers as we continue to provide innovative, cost-effective equipment, technology, and services to improve their productivity," stated John May, president for Agricultural Solutions.

PLA was established in 1975 and was the first manufacturer of self-propelled sprayers in Latin America. It has approximately 450 employees and markets products on four continents, Deere said.