Nutrien recently announced the company has entered into a definitive agreement to purchase the Fresno-based company Actagro, LLC. The acquisition will cost a total of $340 million, which will include $20 million in working capital. Actagro was founded in 1997 and has grown into a developer, manufacturer and marketer of soil and plant health products that increase crop productivity. Actagro’s portfolio includes approximately 30 specialty products which are produced at two U.S. manufacturing facilities located in California and Arkansas.
Nutrien’s acquisition will include Actagro’s research and development team, as well as a research and development facility in Biola. Nutrien expects the acquisition to add to the company’s earnings in the first year. The closing of the deal will first require U.S. regulatory approval but is expected to be completed in the coming months.