Agrium Buys Majority of Distributor

Agrium says it has agreed to acquire a 70% stake in fertilizer distributor Common Market Fertilizers (CMF; Brussels) for $16 million, plus working capital of approximately $50 million. The deal is expected to close in the second quarter. CMF has annual sales of $500 million-$600 million. It owns and leases about 300,000 m.t. of dry and liquid storage capacity at port and inland sites across much of Europe, Agrium says. “CMF provides us with important access to major distribution assets across Europe and expansion of our sourcing footprint into Eastern...

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