Nutrien Ltd. entered a definitive agreement to purchase Agrosema Comercial Agricola Ltda., an agriculture retailer in southern Brazil.

The Canada-based fertilizer producer said Jan. 6 that the acquisition complements its current retail operations in Brazil and will create another market channel for products from its Agrichem business located in Ribeirao Preto, Sao Paulo.

The company did not reveal the financial details of the deal, but noted that the acquisition multiple was in line with "similar sized tuck-in acquisitions in North America in recent years."

Nutrien currently holds a central fertilizer blending facility in Itapetininga, six additional facilities in the states of Sao Paulo and Minas Gerais, and Agrichem, which produces specialty liquid fertilizers.

The deal completion requires approval from Brazil's Administrative Council for Economic Defense.