Nutrien Ltd. (NTR.TO,NTR), a Canadian fertilizer company, said on Wednesday that it has inked a deal to buy Casa do Adubo S.A., a Brazilian distributor of fertilizers, pesticides, and seeds, for an undisclosed sum.
The acquisition includes 39 retail sites under the brand Casa do Adubo, and 10 distribution centers, under the brand Agrodistribuidor Casal in Brazil.
The transaction is expected to support Nutrien's retail growth in Brazil.
Upon completion of the transaction, Nutrien aims to cross its previous adjusted EBITDA projection of $100 million in Brazil by 2023.
The acquisition of Casa do Adubo is expected to result in additional run-rate sales of around $400 million, raising the total annual sales of Nutrien AG Solutions in Latin America to circa $2.2 billion.
Following the transaction, Nutrien will have 180 commercial units in Latin America.
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