GLOBAL agricultural merchant, Louis Dreyfus Company (LDC), has entered an agreement to sell its Australian fertiliser and inputs distribution business, Macrofertil Australia, to Landmark Operations, the Australian ag-retail business of Canada-based Agrium Inc.
The business includes six fertilizer storage and distribution assets with coating and blending capabilities, with annual sales exceeding 300,000 tonnes and amounting to approximately US$120 million.
“This transaction is another step towards the implementation of our strategic roadmap, enabling us to concentrate on businesses with closer ties to product sourcing and strong farmer relationships,” LDC chief executive officer, Gonzalo Ramírez Martiarena, said.
“We will continue to provide Macrofertil customers in the rest of the world with a wide range of fertilizers and inputs products and outstanding service, leveraging evolving technology.”
Having participated in Australia’s agricultural industry for more than 100 years, LDC will retain an active presence through its merchandizing and processing activities across its cotton, grains, oilseeds, dairy and sugar business lines.
Completion of the agreement is subject to customary closing conditions, and is expected to close in the first quarter of 2018.
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