Agrium acquire Tetra Micronutrients in Nebraska
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Agrium to acquire Tetra Micronutrients in Nebraska

12:35 PM, 18th June 2011
Agrium to acquire Tetra Micronutrients in Nebraska
Mike Wilson, President and CEO, Agrium.

CALGARY, CANADA: Agrium Inc will purchase International Mineral Technologies (Tetra Micronutrients) located in Fairbury, Nebraska, specializing in production, marketing and distribution of custom liquid plant nutrition and dry micro nutrient products, predominantly zinc sulphate. The transaction is expected to close by mid-July 2011.

Total annual revenues are over $ 60 million, $ 24 million in liquid nutrient sales and about $ 40 million in dry products. Agrium will integrate this business into its Agrium Advanced Technologies (AAT) and Loveland Products proprietary brand businesses. The acquisition was made at a multiple similar to other recent retail acquisitions in North America, with a pre-synergy EV/EBITDA multiple of approximately 5.

“The acquisition of Tetra Micronutrients is another example of a strong strategic fit within our existing retail and advanced technologies businesses. This will strengthen our product lines, while offering significant synergy potential,” said Mike Wilson, President and CEO, Agrium.

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