Shearman & Sterling is advising Deere & Company in the sale of one of its Agriculture & Turf segment units, John Deere Landscapes, to Clayton, Dubilier & Rice. Deere will initially retain a 40% ownership stake in the new standalone company.

John Deere Landscapes is the nation's leading supplier of wholesale irrigation, landscape lighting, nursery, and turf and maintenance supplies for green industry contractors. Headquartered in Alpharetta, Georgia, John Deere Landscapes operates over 400 branches in North America and has approximately 2,000 employees.

Founded in 1978, Clayton, Dubilier & Rice (CD&R) is a private equity firm with an investment strategy predicated on producing financial returns through building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $18 billion in 56 US and European businesses with an aggregate transaction value of more than $90 billion.

The Shearman & Sterling team included partners Stephen Besen (New York-Mergers & Acquisitions), Laurence Bambino (New York-Tax), Douglas McFadyen (New York-Tax), Kenneth Laverriere (New York-Executive Compensation & Employee Benefits), Denise Grant (New York-Project Development & Finance), and Samuel Waxman (New York-Intellectual Property Transactions); counsel Jeff Salinger (New York-Real Estate/Environmental) and Lisl Dunlop (New York-Antitrust); and associates Edward Mullen (New York-Mergers & Acquisitions), Robert Bucella (New York-Mergers & Acquisitions), Raleigh Morgan (New York-Mergers & Acquisitions), Laura Mulry (New York-Real Estate/Environmental), Derek Kershaw (New York-Tax), Nkiruka Amalu (New York-Project Development & Finance), Kelly Karapetyan (New York-Antitrust), and Nell Beekman (New York-Executive Compensation & Employee Benefits); and international associate Diego Bunster (New York-Mergers & Acquisitions).