John Deere is going to buy a French company known for its planting equipment. Today, it announced an agreement to acquire Monosem which has four plants in France and two in the US.
Deere says Monosem is a family owned company founded in 1948, and it's the market leader in Europe for precision planters. Despite new ownership, it will keep its brand and trademark after the sale is completed.
John May, president of Deere's Agricultural Solutions, says "acquiring this market leader positions John Deere to serve more customers worldwide."