ICL completed the acquisition of South American plant nutrition business from Compass Minerals for $402m.

ICL, a multi-national manufacturing concern that develops, produces and markets fertilizers, metals and other special-purpose chemical products, completed the acquisition of South American plant nutrition business from Compass Minerals, a global provider of essential minerals, for $402m. “We’re delighted to have this business join our crop nutrition portfolio and to welcome its team and its customers to ICL. This acquisition, together with our recent acquisition of Fertiláqua in Brazil and our existing specialty plant nutrition business there, positions ICL as the leading specialty plant nutrition company in Brazil, one of the world’s fastest growing agriculture markets. This step will also significantly expand ICL’s product portfolio and profitability, while providing further seasonal balance between the Northern and Southern hemispheres, and allow us to deliver the critical mass we have been seeking in Brazil,” said Raviv Zoller, President and CEO of ICL.