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SASKATOON — Nutrien Ltd. says it has entered into a deal to buy Brazilian company Casa do Adubo S.A. 

The Saskatoon fertilizer company says the acquisition includes 39 retail locations under the brand Casa do Adubo and 10 distribution centres under the brand Agrodistribuidor Casal.

Nutrien says the deal supports its retail growth plan in Brazil and is expected to result in additional projected sales of about US$400 million, bringing its total annual sales in Latin America to about US$2.2 billion. 

The transaction is pending approval from the Administrative Council for Economic Defense in Brazil. 

Once the acquisition is complete, Nutrien will have 180 commercial units in Latin America, including customer-facing retail branches and experience centres, five industrial plants and four fertilizer blenders.

Financial terms of the deal have not been disclosed.

This report by The Canadian Press was first published July 20, 2022.

Companies in this story: (TSX:NTR)

The Canadian Press