LESCO Transaction Sails Through Shareholders Meeting

CLEVELAND — The sale of LESCO, a pest control product distributor, to Deere & Company was finalized on May 3, following a special shareholders’ meeting in Cleveland.

It took less than five minutes for shareholders to approve the sale. The meeting began shortly before 10 a.m. eastern at The Forum in downtown Cleveland and was adjourned at about 10:04 a.m. A member of LESCO’s board of directors brought the meeting to order, then a secretary read the votes which had been tallied before the meeting began. LESCO is headquartered in Cleveland, and the shareholder meeting took place a few blocks from the company’s offices.

More than 6 million votes were cast in approval of the sale, while there were nearly 1.7 million votes against the sale. About 87,000 votes were withheld.

It’s expected that LESCO and its 332 service centers and 125 stores-on-wheels will merge with John Deere Landscapes. The combination of LESCO and John Deere Landscapes will expand the customer base for both LESCO and John Deere Landscapes products and services.

Deere and LESCO had announced a definitive merger agreement in February.

Phillips is editor of Commercial Dealer magazine.