Nutrien Ltd. announced this week that it has entered into a definitive agreement to purchase 100% of the equity of Actagro, LLC, a developer, manufacturer and marketer of environmentally sustainable soil and plant health products and technologies. Actagro’s commercial portfolio includes approximately 30 specialty products.
Actagro’s products are produced at two U.S. manufacturing facilities located in California and Arkansas, and distributed across global agricultural markets through retailers and distributors, including Nutrien’s retail business.
The acquisition includes Actagro’s research and development team, as well as a near-complete research and development facility located in California that will support the continued development of soil and plant health technologies.
“The acquisition of Actagro is aligned with Nutrien’s strategy to invest in higher-margin proprietary products that provide strong value for growers,” said Chuck Magro, Nutrien’s President and CEO. “Actagro has a strong track record of developing and manufacturing high-value crop nutrition products and we see a significant opportunity to expand the business by leveraging the global reach of our retail network and the expansion of Actagro’s strong relationships with domestic and international distributors.”
The purchase price is $340 million, including approximately $20 million in working capital, according to the Nutrien’s announcement.