Nutrien buys sustainable soil firm for $340M

LOVELAND — Nutrien Ltd., a Canadian crop-nutrient company with operations in Loveland and Greeley, has purchased sustainable soil product maker Actagro LLC for $340 million.

Actagro has manufacturing operations in Arkansas and California. The acquisition includes all the company’s manufacturing facilities as well as research and development facilities in California, according to a Nutrien news release.

“The acquisition of Actagro is aligned with Nutrien’s strategy to invest in higher-margin proprietary products that provide strong value for growers. Actagro has a strong track record of developing and manufacturing high-value crop nutrition products, and we see a significant opportunity to expand the business by leveraging the global reach of our retail network and the expansion of Actagro’s strong relationships with domestic and international distributors,” Nutrien CEO Chuck Magro said in a prepared statement. “Nutrien will continue to use its strong balance sheet and cash flow to prudently allocate capital toward growth opportunities that create value for our customers and our shareholders.”

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The Actago acquisition comes on the heels of two other by Nutrien in 2018. Last summer the company bought Illinois-based Agrible Inc. and Tennessee-based Waypoint Analytical Inc.