Compass Minerals has announced its completion of the purchase of all remaining interest in Produquímica Indústria e Comércio S.A., one of Brazil’s leading manufacturers and distributors of specialty plant nutrients. As previously disclosed, the acquisition is expected to add an estimated $0.12 to $0.15 to earnings per share in 2016.
Compass purchased 35 percent of Produquímica in December 2015. Total consideration for the remainder of Produquímica was approximately $465 million, including the purchase of equity valued at $328 million and the assumption of approximately $137 million of net debt.
In welcoming the employees and associates of Produquímica, Compass Minerals CEO, Fran Malecha, said that with the acquisition, “We have expanded the geographic scope of our operations into one of the world’s most important agriculture markets, broadened our portfolio of specialty plant nutrition products, and reduced our dependency on winter weather.”