Agrium Acquires European Network
July 16, 2008 Agrium Inc. has successfully purchased a 70 percent equity position in Common Market Fertilizers S.A., one of Western Europe’s largest fertilizer distribution companies.
Common Market Fertilizers (CMF) has developed a large base of 1,500 customers — including retailers and cooperatives — across Europe over the past 24 years and has annual sales revenues of about $600 million and crop nutrient sales volumes of 2 million to 2.5 million tonnes. It operates through subsidiaries in France, Germany, Belgium, the UK, Italy, and Bulgaria, and it also markets products in Spain, the Netherlands, Ireland, Greece, Denmark, and South America. CMF owns and leases over 300,000 tonnes of dry and liquid storage at both port and inland sites across much of Europe.
“The acquisition of CMF provides us with important access to major distribution assets across Europe and is key to expanding our international sourcing and distribution business,” says Mike Wilson, Agrium president and CEO.
CMF’s head office is located in Brussels, Belgium, and CMF currently has 60 employees across Europe. Oscar Geyer will remain as managing director of CMF, and he will continue to hold an equity position in the company.
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