John Deere did not buy all of Hagie Manufacturing in 2016. Deere acquired an 80 percent interest in Hagie in March of that year through a joint venture, then acquired the remaining ownership in 2020. Deere reported the initial stake cost approximately $53 million, net of cash acquired; the later transaction’s price and exact closing date were not stated in the official materials cited here.
Did John Deere buy Hagie?
Yes, but in two stages. Deere’s fiscal 2016 Form 10-K says the company acquired an 80 percent interest in Hagie Manufacturing Company, LLC, in March 2016. Hagie’s official history says Deere acquired the remainder of the ownership in 2020. The first transaction was therefore a majority investment, not a purchase of the entire company.
| Date | What happened | What is disclosed |
|---|---|---|
| March 2016 | Deere entered a joint venture with Hagie and acquired a majority interest. | Deere reported an 80 percent interest and an approximate cost of $53 million, net of $3 million in cash acquired. Deere & Company, FY2016 Form 10-K |
| 2020 | Deere acquired the remainder of Hagie ownership, according to Hagie’s official company history. | The cited history does not state the exact closing date or consideration. Hagie company history |
Deere announced the joint venture on March 29, 2016. Its announcement described plans to integrate Hagie sales and service into Deere’s global distribution channel over the following 15 months. Deere’s March 29, 2016 announcement
How much did Deere pay for Hagie?
For its 2016 80 percent interest, Deere reported an approximate cost of $53 million, net of $3 million of cash acquired, in its FY2016 Form 10-K. That figure applies to the initial transaction; the official materials cited here do not disclose what Deere paid for the remaining ownership in 2020.
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The same filing reported a $14 million redeemable noncontrolling interest and acquisition-date accounting allocations. These allocations describe the value assigned to acquired assets and liabilities; they are not additional cash payments.
| 2016 acquisition accounting item | Reported amount |
|---|---|
| Trade receivables | $2 million |
| Inventories | $33 million |
| Property and equipment | $17 million |
| Goodwill | $33 million |
| Identifiable intangible assets | $22 million |
| Other assets | $3 million |
| Accounts payable and accrued expenses | −$43 million |
| Redeemable noncontrolling interest | −$14 million |
Deere said the identifiable intangibles primarily related to technology, trade name, and customer relationships, with an eight-year weighted-average amortization period. All dollar amounts in this table are Deere’s acquisition-date accounting figures reported in its FY2016 Form 10-K, not current Hagie valuations.
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Why did Deere invest in Hagie?
Deere described high-clearance spraying as a new market for the company and pointed to Hagie’s specialized equipment and expertise. The strategic fit was the combination of Hagie’s sprayers with Deere’s precision technology and dealer network, particularly for customers looking to apply nutrients during a wider window in crop growth.
“High-clearance spraying equipment is a new market for Deere.”
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John May, Deere president of Agricultural Solutions and Chief Information Officer, in Deere’s March 29, 2016 announcement.
May also said Hagie’s expertise could help Deere serve customers seeking precision solutions to extend their nutrient-application window. Hagie CEO Alan Hagie said the partnership could bring Hagie solutions to customers globally and support them through Deere dealers. Those statements explain the companies’ stated rationale and expectations; they do not establish measured gains in sales, yields, or profitability.
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What changed for Hagie sprayers and customers?
Brand and manufacturing
Deere’s 2016 announcement said Hagie would continue producing sprayers at its existing location in Clarion, Iowa, under the Hagie brand. That announcement describes the plan at the time of the initial transaction; it is not confirmation that every current Hagie product is manufactured there.
Sales and service
Deere planned to integrate Hagie sales and service into its global distribution channel over 15 months. Hagie’s current company pages identify it as part of John Deere and direct customers to the Deere dealer network for sales and support. Hagie official site
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Product integration
Hagie’s official timeline says the 2017 STS14 and STS16 were the first Hagie models powered by John Deere engines, with Deere precision technology factory installed. This is a historical milestone, not a statement about the equipment currently offered or its specifications. Hagie’s official site lists its sprayer family, detasseling equipment, manuals, precision software, attachments, and support. Hagie timeline and company history Hagie products
What is Hagie’s history?
Hagie’s official history says Ray Hagie built the company’s original high-clearance self-propelled sprayer in 1947; the description of it as the world’s first self-propelled sprayer is Hagie’s own historical claim. Hagie company history
The Deere transaction connected that long-running specialized equipment business to Deere’s technology and distribution systems. For a buyer assessing a particular machine, however, this acquisition history does not substitute for current model specifications, dealer availability, service coverage, or ownership-cost estimates.
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