ICL Group Ltd. on July 29 announced that it has acquired Custom Ag Formulators (CAF), a North American provider of customized agriculture formulations and products for growers. The acquisition for approximately $60 million is part of ICL’s effort to expand its Growing Solutions product offering and to position the business for further growth in new and adjacent end-markets.
“We are pleased to have Custom Ag Formulators join ICL and bring their expertise to our customers in the US,” said Elad Aharonson, President of ICL Growing Solutions. “This acquisition helps further the growth of our global Growing Solutions business, by enabling us to meet the distinctive needs of local growers through our existing distribution partners. It also allows us to address the specific requirements of farmers across the growing regions of the West Coast and the Southeast, where crops – and their nutritional needs – can vary greatly.”
CAF operates two manufacturing sites, one in Fresno, Calif., and the other in Adel, Ga., where the company produces liquid and dry adjuvants and enhanced nutrients, as well as various other specialty products, in customized agricultural formulations and packaging. CAF’s strategic locations allow it to ship same-day to growing regions on both the US East and West Coasts, as well as to the central US.
“Custom Ag Formulators was founded to provide quality products with custom formulations and packaging in a timely and efficient manner,” said Patrick Murray, CAF Principal and Director of Sales. “For more than 25 years, our mission has been to consistently lead the industry in customer service, quality, and product innovation, and we are excited to move this mission forward with ICL Group.”
This is the second Growing Solutions acquisition for ICL in 2024. The first, completed earlier this year, was the $30 million purchase of Nitro 1000, a manufacturer, developer, and provider of biological crop inputs in Brazil (GM March 1, p. 30).