Canadian Agrium buys Romanian agricultural business Agroport

Canadian company Agrium, active in the agricultural field has bought Italian fertilizer manufacturer CerealToscana and its subsidiary in Romania, Agroport, for USD 27 million, plus the working capital. The two companies achieved in the last three years an annual gross sales figure of around USD 200 million and an average EBITDA profit of USD 8 million. CerealToscana and Agroport have the storage capacity for 90,000 tonnes of products, with distribution assets in Livorno and Ravenna in Italy, and in the Danube region in Romania. The two companies sell 400,000 tonnes of fertilizer annually. Agrium, listed on the Toronto Stock Exchange provides agricultural products and services in North America, South America and Australia. Agroport was established in Galati, Romania, in 1996 and its main activity is the wholesale trade of chemical products. Agroport's shareholders are CerealToscana in Italy, which holds 68.76 percent of the shares and the Romanian company, Trans Europa Management, with the remainder of the shares. Irina Popescu, irina.popescu@romania-insider.com