Agrium Inc., Calgary, Alberta, announces it has concluded the purchase from Spectrum Brands Inc., Atlanta, GA, of its Nu-Gro fertilizer technology and professional products businesses.
Agrium Inc., Calgary, Alberta, announces it has concluded the
purchase from Spectrum Brands Inc., Atlanta, GA, of its Nu-Gro
fertilizer technology and professional products businesses. Agrium will
fund the purchase price of $86-million from cash on hand. This
acquisition is expected to boost Agrium's sales and earnings in the
growing specialty fertilizer segment and provide sufficient critical
mass to form a new Strategic Business Unit.
"With the addition of Nu-Gro, we enhance our position as a
leader in controlled release fertilizers and add another stable earnings
stream to our portfolio of businesses and products," said Mike
Wilson, Agrium president and CEO.
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