Monday, July 12, 2010

Agrium (NYSE:AGU) Completes Acquisition of Retail Farm Centers in Argentina

Agrium (NYSE:AGU) (TSE:AGU) said it has completed the acquisition of 24 retail farm centers in Argentina, along with a crop protection facility from competitor DuPont Crop Protection.

This is a nod towards Agrium's expansion strategy for growth in the South American market.

Estimates by Agrium on the annual revenues from the 24 farm centers are around $57 million.

The number of retail farming outlets in South America after the deal will stand at 56, which operate under the brand Agroservicios Pampeanos.

"Not only will (the deal) solidify our current retail presence in Argentina, it will also strengthen existing strategic partnerships and allow us to better meet the needs of the local growers," said Agrium president and CEO Mike Wilson in a press release.

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