Agrium Expands European Fertilizer Distribution With Purchase of CerealToscana and Agroport (AGU)

Agrium AGU announced today that it successfully concluded the purchase of a 100% equity position in CerealToscana S.A., a fertilizer distribution company in Italy and Agroport, its subsidiary in Romania. The purchase price is $27-million plus working capital. The combined companies have a stable financial record with gross sales of approximately $200-million and an average EBITDA of $8-million over the past three years, before anticipated synergies. CerealToscana and Agroport have 90,000 tonnes of storage with key distribution assets in Livorno and Ravenna, Italy and along the Danube in Romania. They sell an estimated 400,000 tonnes of fertilizer per year including commodity and specialty products.