"Despite tough farm economics, we delivered a solid second quarter and are staying disciplined on near-term execution of the business," CEO Hugh Grant says.
The agribusiness giant says its acquisition of Pro-Pet will make it the only national supplier of both animal feed and pet food.
The deal may help clear the way for European authorities to approve Bayer's acquisition of Monsanto early next year.
The company's net income rose 14% to $973 million amid brisk demand for beef, strong exports, and more abundant cattle supplies.
The acquisition of Wirtgen will boost Deere's road construction business as it seeks to reduce its dependence on agricultural equipment.
Profit increased 50% in the third quarter, suggesting management and portfolio changes under way at the agribusiness giant "are beginning to yield results."
