Nutrien, the new business created through the merger of Potash Corp and Agrium last month, has already made its first acquisition.
The company has purchased an 80% stake in Agrichem, a major crop inputs supplier in Brazil, with the remaining 20% subject to an earn out. Agrichem is Brazil’s largest producer of liquid NPK fertilisers, as well as making and distributing plant health products and bio-stimulants. It has annual sales of around $55 million and makes 12 million litres of product each year.
"As a leader in Brazilian specialty nutrient markets, the Agrichem team and extensive product profile will be an excellent fit with our Loveland products proprietary technologies business and digital agriculture portfolio," comments Chuck Magro, Nutrien president and chief executive. "Brazil will be a strategic focus for further expansion due to its large and growing agriculture retail and crop input market."