Compass Minerals has acquired Produquímica, a specialty plant nutrition company based in Brazil. This acquisition adds the products developed by Produquímica to Compass Minerals' exisiting plant nutrition portfolio, which includes Protassium+ premium sulfate of potash and Wolf Trax DDP Nutrients.
This acquisition combines the U.S. and Brazilian R&D efforts. Also, Compass Minerals will be able to conduct year-round evaluations of new products and technologies across both Northern and Southern hemispheres.
The acquisition also expands manufacturing capacity with multiple factories fully dedicated to manufacturing ag products.
Compass Minerals purchased 35% of Produquímica in December 2015. Total consideration for the remainder of Produquímica was approximately $465 million (based on a Brazilian Real-to-US$ exchange rate of R$3.25/US$1.00).