Nutrien signs deal to buy Brazilian company Agrosema, terms not released

SASKATOON — Nutrien Ltd. says it has signed a deal to buy Brazilian company Agrosema Comercial Agricola Ltda.

Financial terms of the deal were not immediately available.

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Nutrien says Agrosema has annual sales of roughly US$60 million across 12 farm centres with approximately 200 employees.

The company says the acquisition complements its current retail operations in Brazil.

Nutrien Ag Solutions has two main operations in Brazil including a central fertilizer blending facility in Itapetininga and six additional facilities.

The company also owns Agrichem, which produces specialty liquid fertilizers in Brazil.

"The Agrosema acquisition is an excellent fit as we continue to build our Ag retail business in the important and growing Brazilian agricultural market," Nutrien chief executive Chuck Magro said in a statement.

"We expect to continue to expand our operations in Brazil in the coming years, both through acquisition and expansion of product and service offerings."

This report by The Canadian Press was first published Jan. 6, 2020.

Companies in this story: (TSX:NTR)

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