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Overland Park-based Compass Minerals to sell plant nutrition business for $418M

By Madison Parry

Compass Minerals International Inc. has entered into a definitive agreement to divest its South America Plant Nutrition business to ICL Brasil Ltda., subsidiary of ICL Group. The transaction is valued at $418 million and is expected to complete in the third quarter of 2021.

In a deal valued around $418 million, Overland Park headquartered mineral producer, Compass Minerals International Inc., announced it will its South America specialty plant nutrition business to ICL Group subsidiary, ICL Brasil Ltda.

ICL Brasil Ltda. has signed a definitive agreement to purchase Compass Mineral’s plant nutrition business. The transaction is expected to complete and close in the third quarter of 2021.

Compass Minerals produces salt, plant nutrients and magnesium chloride for distribution primarily in North America, the company website reads. Compass’ products serve a variety of applications in industrial, agricultural, commercial and consumer markets.

ICL Group is a multi-national manufacturing company that develops, produces and markets fertilizers, metals and other special-purpose chemical products. ICL serves primarily three markets which are agriculture, food and engineered materials.

Though Compass Minerals is selling its plant nutrition business, its South America chemicals business is not included in the transaction.

“Over the past year, our board and senior management team have been conducting a detailed analysis of our company’s current asset portfolio, product mix and core competencies with the aim of maximizing sustainable value creation for our shareholders, customers and communities,” Kevin S. Crutchfield, president and CEO of Compass Minerals, said in a company news release. “Today’s announced transaction represents a significant step toward that goal as it will strengthen our balance sheet and enhance our ability to pursue strategic opportunities for growth as a leading essential minerals company.”

After the close of the sale, Compass Minerals said it will continue to produce, manufacture and innovate a broad portfolio of salt and magnesium chloride products throughout North America and the U.K. The company will also continue to be a market-leading North American producer of premium plant nutrition products.