Fertiláqua markets more than 100 different products under the brands Aminoagro, Dimicron, and Maximus
Global speciality minerals and speciality chemicals company ICL has agreed to acquire a specialty plant nutrition company, Fertiláqua for around $120m.
The company has signed a definitive agreement with an ag and food private equity firm Aqua Capital for the acquisition.
Fertiláqua markets more than 100 different products and offers a complete portfolio of plant life-cycle solutions for plant nutrition and stimulation, soil revitalization, seed treatment and plant health across all key Brazilian crops.
The crops include soybeans, corn, sugarcane, cotton, coffee, fruits and vegetables.
With more than 350 employees, the company’s brands include Aminoagro, Dimicron, and Maximus.
Fertiláqua operates in 24 Brazilian states and serves more than 500 customers, including ag-input retailers, cooperatives and large farms. It also has two production sites and two research and development centres.
The acquisition to expand ICL’s specialty plant nutrition product portfolio
Through the deal, ICL expects to expand its specialty plant nutrition product portfolio and improve its customer base and on-ground presence across agriculture regions in Brazil.
ICL president and CEO Raviv Zoller said: “The acquisition of Fertiláqua is an important part of the growth strategy of our crop nutrition business.
“As we stated during our recent Investor Day, the expected growth of our crop nutrition business, both organically and through M&A, will be supported, in part, by increased demand for high-end specialty fertilizers and our focus on growth markets.
“Fertiláqua gives ICL a significant foothold in a major market, where demand growth for specialty plant nutrition products is increasing rapidly.”
Subject to the fulfilment of customary closing conditions, the transaction is expected to occur by early next year.
Upon completion of the deal, ICL plans to use Fertiláqua’s market presence and distribution capabilities to increase the sales of its organic fertilizers, controlled-released fertilizers and other specialty plant nutrition products to the Brazilian market.
In February this year, ICL announced the acquisition of Growers Holdings, a US-based precision agriculture company for an undisclosed amount.