Leading Brazilian specialty plant nutrition company enhances ICL's position in high-growth, high-margin Brazilian specialty plant nutrition market
TEL AVIV, Israel, Jan. 7, 2021 /PRNewswire/ -- ICL (NYSE & TASE: ICL), a leading global specialty minerals and specialty chemicals company, announced today it completed the acquisition of Fertiláqua, one of Brazil's leading specialty plant nutrition companies, for $122 million, which includes the assumption of approximately $40 million of net debt. ICL expects to leverage Fertiláqua's strong market presence and distribution capabilities to increase the sales of its organic fertilizers, controlled-released fertilizers and other specialty plant nutrition products to the Brazilian market, one of the world's fastest growing agriculture markets.
"We are delighted to add Fertiláqua to our crop nutrition business, as it gives ICL a significant foothold in a major market with rapidly increasing demand for specialty plant nutrition products and also provides a seasonal sales balance between the Northern and Southern hemispheres," said Raviv Zoller, president and CEO of ICL. "Going forward, we expect to continue to grow in the specialty fertilizer market and to expand our reach in Brazil via both M&A and organic growth."
ICL Group LTD is a leading global specialty minerals and chemicals company that creates impactful solutions for humanity's sustainability challenges in global food, agriculture, and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation to drive growth across its end markets. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs over 11,000 people worldwide, and its 2019 revenues totaled approximately $5.3 billion.
With over 100 different products, including those marketed under the leading Aminoagro, Dimicron and Maximus brands, Fertiláqua offers a complete portfolio of plant life-cycle solutions for plant nutrition and stimulation, soil revitalization, seed treatment and plant health across all key Brazilian crops, including soybeans, corn, sugarcane, cotton, coffee, fruits and vegetables. Fertiláqua has over 350 employees, two production sites and two research and development centers. The company also has a presence in 24 Brazilian states and serves over 500 customers, including ag-input retailers, cooperatives and large farms.
For more information, visit ICL's website at www.icl-group.com.
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