Louis Dreyfus Co. (LDC) has entered an agreement to sell its Australian fertilizer and input distribution business, Macrofertil Australia Pty. Ltd., to Landmark Operations Ltd., the Australian agricultural retail business of Canada-based Agrium Inc.
Incorporated in October 2013, Macrofertil Australia distributes a full range of fertilizers and crop protection products in Western Australia, South Australia and Victoria. The business includes six fertilizer storage and distribution assets with coating and blending capabilities and has annual sales exceeding 300,000 tons, which amounts to approximately $120 million (U.S.).
“This transaction is another step towards the implementation of our strategic road map, 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 agriculture industry for more than 100 years, LDC remains committed to growing in the country and will retain an active presence through 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.