MOLINE, Ill. — Deere & Company recently sold its Homelite consumer products division to TechTronics Industries of Hong Kong. Terms of the transaction were not disclosed.
Under the terms of the agreement, TechTronics will own the Homelite brand of handheld and power equipment and the Green Machine brand name previously used by Deere on handheld and power equipment. The sale is part of Deere's previously announced strategy to improve business performance.
Deere said it will continue to market its John Deere Pro Series for commercial users. It also said the sale of the Homelite business affects operations in Chihuahua, Mexico, Greer, S.C., and Charlotte, N.C., but not the Columbia, S.C., facility, which is being marketed separately.
