Brazil antitrust regulator the Administrative Council for Economic Defense (CADE) reported that it has approved Nutrien Ltd.’s plan to acquire agricultural retailer Cada Do Adubo SA, without restrictions.
Nutrien announced the deal in July (GM July 22, p. 1). It includes 39 retail locations under the brand Casa do Adubo and 10 distribution centers under the brand Agrodistribuidor Casal, all located in the states of Acre, Bahia, Espírito Santo, Maranhão, Mato Grosso, Minas Gerais, Pará, Rio de Janeiro, Rondônia, São Paulo, and Tocantins.
“The acquisition expands our footprint in Brazil from five states to 13 and supports growers in a key region of the world that will increasingly be relied on to sustainably increase crop production and feed a growing population, especially with the current global food insecurity challenges,” said Ken Seitz, Nutrien President and CEO in July.
Nutrien now expects to surpass its stated target of US$100 million of adjusted EBITDA in Brazil by 2023.