KKR & Co. (NYSE: KKR), the private-equity firm led by Henry Kravis and George Roberts, agreed to buy landscape-maintenance company Brickman Group Ltd. from Leonard Green & Partners LP for $1.6 billion. KKR’s investment will come from its 11th North American buyout fund as well as other pools, the New York-based firm said in a statement today. The buyout firm expects to finish raising KKR North American Fund XI by year-end with more than $8.3 billion, it said last month. “We are excited to invest in the company and look forward to working closely with the Brickman leadership team to continue to build on the company’s market-leading position,” Simon Brown, KKR’s head of consumer-products investing, said in the statement. Clayton Dubilier & Rice LLC, the buyout firm led by Don Gogel, last month agreed to buy the majority of Deere & Co.’s landscaping business in a $465 billion deal. John Deere Landscapes will become a standalone company after the transaction, the companies said.
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