Saskatoon, Sask.-based MustGrow Biologics says it has completed its purchase of NexusBioAg from Univar Solutions, as of December 31, 2024.
The acquisition provides MustGrow with NexusBioAg’s existing biological and fertilizer product lines, as well as a sales, marketing, and distribution division in Canada, with the opportunity to expand the division’s operations into the U.S.
The two companies have worked together in the past, as NexusBioAg received exclusive marketing and distribution rights in the Canadian canola and pulse market in 2022 for MustGrow’s proprietary mustard-derived product for mitigating aphanomyces and clubroot.
MustGrow, which is publicly-traded on the TSX (TSXV: MGRO), signed a non-binding offer to purchase NexusBioAg in November.
Now that the deal is closed, the company says its new NexusBioAg division will market and sell existing NexusBioAg product lines, MustGrow’s owned products and technology, and potentially other third-party products.
“This synergistic acquisition solidifies MustGrow’s position as a fully integrated biological and regenerative agriculture company with an established sales, marketing and distribution division offering the existing NexusBioAg product lines and supporting the commercialization of MustGrow’s own innovative products and technologies. Just like MustGrow’s own products and technologies, we are committed to growing the NexusBioAg division and we welcome the new team to MustGrow,” says Corey Giasson, president and CEO of MustGrow, in a Jan. 2 press release.
MustGrow is paying Univar approximately $1.66 million, and earn-out payments based on an undisclosed percentage of revenue on certain products sold by MustGrow in 2025 and 2026.
NexusBioAg was originally formed out of Univar’s acquisition of Saskatoon-based fertilizer wholesaler Nexus Ag and an agreement in 2019 to be the exclusive distributor for Novozymes’ inoculants and biological products in Canada.
