Agrium acquires Italian fertilizer company

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.


Restricted HTML

  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd> <h2 id> <h3 id> <h4 id> <h5 id> <h6 id>
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.