Compass Minerals, a Kansas City-based producer of salt, sulfate of potash specialty fertilizer, and magnesium chloride, has signed a definitive agreement to acquire Wolf Trax Inc., a micronutrient company, in an all-cash transaction valued at CA$95 million (US$85 million), subject to customary post-closing adjustments.
“Wolf Trax brand products are well recognized by fertilizer customers for the differentiated technology they bring to the application of micronutrients. This acquisition will position us for future growth with new products that serve a greater diversity of crops and geographies in a fast-growing segment of the plant nutrition market,” said Fran Malecha, Compass Minerals president and CEO.
Wolf Trax brand micronutrients are formulated to coat and adhere to each prill of dry fertilizer, providing a more precise and effective way of delivering important nutrients, such as boron, zinc, copper and manganese, directly to the plant.
Headquartered in Winnipeg, Manitoba, Wolf Trax generated sales of approximately CA$20 million in 2013. Compass Minerals will fund the purchase with cash on hand.
For more information about Compass Minerals’ plans to acquire Wolf Trax, click here to see the company’s presentation
Source: Compass Minerals