Agrium Inc. (TSX: AGU) (NYSE: AGU) announced today a binding purchase agreement between its Australian ag-retail business, Landmark Operations, Ltd. (“Landmark”), and Louis Dreyfus Company (“LDC”) for the acquisition of Macrofertil, a fertilizer distribution business in Australia with approximately $120-million in annual sales. The business includes six fertilizer storage and distribution assets with coating and blending capabilities, and its annual sales exceed 300,000 tonnes.
“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’s President and CEO, Chuck Magro.
Landmark is a leading agribusiness company in Australia, offering crop inputs, agricultural merchandise as well as agronomic advice and services for wool and livestock sales, finance, insurance and real estate. With approximately 400 locations, Landmark serves over 100,000 clients.
The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2018.