Deere & Company and Banco Bradesco announce agreement

Deere & Company and Banco Bradesco announced legal business in the Brazilian market. The "joint venture", with 50% participation from each company, aims to offer competitive financing options for John Deere customers, dealers and distributors in Brazil.

The agreement provides for Bradesco, through its subsidiary Bradesco Holding de Investimentos, to invest in Banco John Deere, a wholly owned subsidiary of Deere & Company. With the joint venture, the institutions intend to optimize financial services, banking products and processes. The objective is to strengthen the ability to offer differentiated options in the market.

“John Deere is committed to transforming the financing experience for its audience in Brazil,” said Jorge Sivina, regional director at John Deere Financial. He highlighted that the joint venture will allow John Deere to diversify financing options for equipment, parts and services, including recently launched subscription solutions.

José Ramos Rocha Neto, vice-president of Banco Bradesco, stated that the partnership is a significant advance for the bank in the agribusiness and construction sectors. He hopes to expand financing and service options for John Deere customers, dealers and distributors in Brazil.

Completion of the transaction depends on the fulfillment of customary conditions and necessary regulatory approvals. During this period, customers will continue to use Banco John Deere products and services as normal. The Banco John Deere brand will be maintained.