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Agrium to acquire Louis Dreyfus' Australian fertilizer distribution business

Agrium Inc. said Dec. 12 that its Australian agricultural-retail unit Landmark Operations Ltd. signed a binding purchase agreement to acquire Macrofertil, Louis Dreyfus Co.'s Australian fertilizer distribution business.

The company did not disclose the purchase price but noted that Macrofertil has about US$120 million in annual sales. The Macrofertil business includes six fertilizer storage and distribution assets with coating and blending capabilities.

Agrium expects to close the transaction in the first quarter of 2018, subject to customary conditions.