Compass Minerals International Inc. completed the purchase of all remaining interest in Produquímica Indústria e Comércio SA, a Brazilian manufacturer and distributor of specialty plant nutrients, for about US$465 million.
The consideration comprises US$328 million for the equity interest and assumption of about US$137 million of net debt, most of which will be retired during the fourth quarter, according to an Oct. 3 release.
In December 2015, Compass acquired a 35% interest in the entity in an all-cash deal valued at 452.4 million Brazilian reais.
The company agreed to up its interest in Produquímica to 100% under a deal inked in August.
As reported earlier, the acquisition is expected to add 12 U.S. cents to 15 cents to the company's full-year EPS for 2016.
Produquímica generated about 1.2 billion reais in net revenue and 198 million reais in EBITDA for the year ended June 30, and operates two primary businesses — agricultural productivity and chemical solutions.
As of Oct. 3, US$1 was equivalent to 3.23 Brazilian reais.