Crop inputs and service provider Nutrien has signed a definitive agreement to acquire 100% of the equity of Brazilian Ag retailer Agrosema Comercial Agricola.
Agrosema has more than 30 years of experience in the agribusiness segment in southern Brazil.
With annual sales of around $60m across 12 farm centres, the company has approximately 200 employees providing services to several farm customers.
Nutrien president and CEO Chuck Magro said: “The Agrosema acquisition is an excellent fit as we continue to build our Ag retail business in the important and growing Brazilian agricultural market.
“We expect to continue to expand our operations in Brazil in the coming years, both through acquisition and expansion of product and service offerings.”
The addition of Agrosema is expected to enhance Nutrien’s existing retail operations in Brazil. It will also develop additional market channel for the company’s products, which are made at AgriChem business facility in Ribeirao Preto, São Paulo.
Completion of the transaction is based on approval by the Administrative Council for Economic Defense (CADE), as well as meeting other customary closing conditions.
Nutrien manufactures and distributes 27 million tonnes of potash, nitrogen and phosphate products worldwide.
It operates two main facilities in Brazil, a central fertiliser blending facility in Itapetininga, and six facilities in São Paulo and Minas Gerais.
Nutrien also owns specialty liquid fertilisers services provider, Agrichem.
In August last year, Nutrien gained the approval of the Australian Competition and Consumer Commission’s (ACCC) for the acquisition of agriservices businesses Ruralco.