Tel Aviv, Israel – (BUSINESS WIRE) – ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals and chemicals company, today announced the completion of the acquisition of Compass Minerals América do Sul SA, which includes Compass’ South American plant nutrition business. belongs to minerals for approximately $ 420 million.
The South American Plant Nutrition business is the leading specialty plant nutrition business in Brazil, offering a wide range of plant nutrition and stimulation solutions covering all major Brazilian crops. The product portfolio includes fertilizers with improved efficiency and fertilizers with controlled release, soil and leaf micronutrients, secondary nutrients, bio-stimulants and auxiliary substances. The company is present in 25 of the 26 Brazilian states and serves more than 32,000 farms directly and indirectly, with direct sales accounting for around 50% of total sales.
“We are pleased to have this company added to our plant nutrition portfolio and to welcome their team and customers to ICL. This acquisition, together with our recent takeover of Fertiláqua in Brazil and our specialty plant nutrition business there, positions ICL as the leading specialty plant nutrition company in Brazil, one of the fastest growing agricultural markets in the world. This important step is in line with our stated strategy to achieve leadership positions in high-growth specialty plant nutrition markets and accelerates our progress towards long-term global leadership for our Innovative Ag Solutions business. This move will also significantly expand ICL’s product portfolio and profitability, while at the same time creating another seasonal balance between the northern and southern hemispheres and allowing us to deliver the critical mass we have been looking for in Brazil, “said Raviv Zoller, President and CEO of ICL.
The addition of the South American plant nutrition business will enable ICL to offer its customers the broadest and most advanced portfolio of plant nutrition products spanning the entire agricultural value chain. This business, along with ICL’s existing operations in Brazil, will leverage a well-established asset base with a total of eight manufacturing facilities and a sizeable sales force, providing full commercial coverage of all agricultural regions in Brazil.
About Compass Minerals América do Sul SA
Founded in 1965 as Produquímica, the leading specialist plant nutrition provider in Brazil offers a wide range of plant nutrition and stimulation, seed treatment and plant health solutions for all major Brazilian crops including soybeans, corn, coffee, sugar cane, cotton, Fruit and vegetables. The company’s product portfolio includes highly effective fertilizers and fertilizers with controlled release, soil and leaf micronutrients, secondary nutrients (calcium, magnesium and sulfur), bio-stimulants and auxiliary substances as well as ingredients for animal and plant nutrition for B2B customers.
ICL Group Ltd. is a leading global specialty minerals and chemicals company developing powerful solutions to human sustainability challenges in the global food, agricultural and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, passionate team of talented people and strong focus on research and development and technological innovation to drive growth in its end markets. ICL shares are double 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 had sales of around $ 5.0 billion in 2020.
Further information is available on the ICL website at www.icl-group.com.
To access ICL’s interactive corporate social responsibility report, please click here.
You can also find out more about ICL on Facebook, LinkedIn and Instagram.
This release contains statements that constitute forward-looking statements, many of which are created through the use of forward-looking words such as “expects,” “believes,” “could,” “expects,” “should”, “plans,” “intends”, “estimates” and “Potential” among others.
Forward-looking statements appear in several places throughout this press release and include, but are not limited to, statements about the company’s intentions, beliefs, or current expectations. Forward-looking statements are based on beliefs and assumptions of management as well as information currently available to management. Such statements are subject to risks and uncertainties and actual results could differ materially from those expressed or implied in any forward-looking statement, including, but not limited to: the anticipated impact of the transaction on the plant nutrition business; ICL’s strategic focus in Brazil; and estimated growth, sales, synergy gain and other related metrics. While ICL believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, you should not place undue reliance on any forward-looking statements as ICL cannot guarantee that they will prove to be correct.
Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, estimates, projections and statements about management’s expectations with respect to, among other things, business and financial prospects, financial multiples and growth estimates, future Trends, plans, strategies, positioning, goals and expectations, as well as the ability to successfully integrate the new business into the existing business in an effective manner, general economic, market and business conditions, weather conditions, harvest prices, the supply and demand and price level for ours major products and products related to the plant nutrition business, governmental and regulatory requirements and actions by government agencies, including changes in government policy, changes in environmental, tax and other laws or regulations and their interpretation. As a result of the foregoing, readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release regarding the timing of the transaction or other more specific risks and uncertainties that ICL faces, such as “Factors” in its Annual Report on Form 20 filed March 2, 2021 -F as these risk factors may be updated from time to time in its current reports on Form 6-K and other filings by ICL on the US Exchange Commission from time to time.
Forward-looking statements speak only as of the date of their publication, and the company undertakes no obligation to update them in light of new information or future developments, or to publicly announce changes to these statements to reflect future events or circumstances, or to reflect the occurrence of unforeseen events.