VANCOUVER (miningweekly.com) – TSX- and NYSE-listed fertiliser giant Agrium Inc has reached a definitive agreement with Louis Dreyfus Company (LDC) for the acquisition of Macrofertil, a fertiliser distribution business in Australia with about $120-million in yearly sales.
Agrium subsidiary Landmark Operations will take control of six fertiliser storage and distribution assets with coating and blending capabilities, and whose yearly sales exceed 300 000 t.
"This network of high-quality assets will complement our existing retail footprint in Australia and allow us to enhance our product and service offering for new and existing Landmark customers," commented Agrium president and CEO Chuck Magro.
The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2018.
Landmark offers crop inputs, agricultural merchandise, as well as agronomic advice and services for wool and livestock sales, finance, insurance and real estate. With about 400 locations, Landmark serves more than 100 000 clients.
Agrium also expects to close its “merger of equals” with Potash Corporation of Saskatchewan before year-end, which will see the creation of a new $36-billion entity, to be named Nutrien.