The Mosaic Company announced that it has completed the previously announced acquisition of Archer Daniels Midland's fertilizer distribution business in Brazil and Paraguay for $350 million. The assets purchased include $150 million in working capital.
The acquisition is expected to significantly accelerate Mosaic's growth plans in Brazil as well as replace a substantial amount of planned internal investment in that country. Mosaic's distribution capacity in the region is expected to increase from approximately four million tonnes per year to six million tonnes.
As a result of the acquisition, Mosaic intends to manage and report a new international distribution segment beginning in the first quarter of 2015.