Nutrien Ltd. (the newly created company made up of PotashCorp and Agrium) has entered into an agreement to acquire Agrichem, a specialty plant nutrition and plant health product company in Brazil.
Agrichem is one of Brazil’s largest liquid nitrogen, phosphorus, and potassium fertilizer companies, as well as a producer and marketer of plant health products, including bio-stimulants and health inductors. The company currently has 35 product registrations actively marketed, with a primary production facility located close to key agricultural markets in Brazil, with an annual production capacity of almost 12 million litres, according to Nutrien.
Agrichem’s staff and existing network within Brazil will act as a distribution entry point for Nurtien’s Loveland Products business, according to Chuck Magro, Nutrien’s president and CEO. “Brazil will be a strategic focus for further expansion due to its large and growing agriculture retail and crop input market,” he says. The acquisition also provides “potential for leveraging our respective digital agriculture technologies,” according to a press release.
The purchase is subject to regulatory approval and satisfaction of customary conditions precedent and is slated to happen over 2018 and 2019.