Koch Agronomic Services LLC, Wichita, said on May 4 it completed its acquisition of Compass Minerals’ North American micronutrient assets, the global intellectual property rights with trademarks and patents, and certain other assets associated with Wolf Trax®, Rocket Seeds®, and Hydro Bullet™ product platforms (GM April 9, p. 1).
“The agreement with Compass Minerals is consistent with Koch’s vision of providing our customers with innovative solutions focused on plant nutrition,” said Steve Coulter, Koch Senior Vice President. “We are excited to offer these products in conjunction with our current portfolio of nitrogen efficiency solutions to help growers across the globe meet their operational goals.
“We look forward to fully integrating the products into our existing portfolio, along with the addition of new team members to better support new customers and geographies,” added Coulter. “The Koch team will focus on delivering the entire portfolio of Koch products to new and current customers.”
Compass Minerals, Overland Park, Kan., which confirmed the close, said the sale was for approximately $60.25 million, payable at closing and subject to a closing inventory adjustment.
Compass also recently announced the sale of its South American plant nutrition business to ICL Group, Tel Aviv, for $418 million (GM March 26, p. 1). Still on the market is the company’s South American chemicals and water treatment assets. Compass will now focus on its core salt and sulfate of potash (SOP) businesses.