Agrium Completes Acquisition of European Distributor

Agrium says it has completed purchase of a 70% stake in fertilizer distributor Common Market Fertilizers (CMF; Brussels) for $16 million, plus working capital of approximately $50 million. CMF has annual sales of about $600 million and crop nutrient sales volumes of 2 million-2.5 million m.t./year. It operates through subsidiaries in Belgium, Bulgaria, France, Germany, Italy, and the U.K., and markets products in Spain, Denmark, Greece, Ireland, the Netherlands, South America, and Spain. CMF owns and leases over 300,000 m.t. of dry and liquid storage at both port...

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