Canadian farm dealer and fertilizer producer, Agrium, Inc. has purchased CerealToscana SA, a fertilizer distribution company in Italy.
The deal, which includes CerealToscana's Romanian subsidiary, Agroport, is for $27 million, plus working capital.
CerealToscana and Agroport have 90,000 tonnes of storage with key distribution assets in Livorno and Ravenna, Italy, and along the Danube in Romania, Agrium said in a release.
The companies sell an estimated 400,000 tonnes of fertilizer a year including commodity and specialty products.
The deal will boost Agrium's presence in Italy and allow it to enter the Romanian agricultural market, Chief Executive Mike Wilson said.
Agrium, a major potash producer based in Calgary, Alberta, bought Australia's AWB for $1.1 billion last year and sold the former AWB commodity management arm to Cargill Inc. in March.