Nutrien Ltd. announced on July 16 that it has entered into a definitive agreement to acquire Agrible Inc., a digital agriculture company based in Champaign, Ill., for total consideration of $63 million. Agrible has an advanced platform and product offering that includes agronomic and on-farm advisory tools, data science capabilities, predictive analytics, and a global sustainability business. The company has 55 employees.
“The acquisition of Agrible is consistent with our strategy of investing in the growth of Nutrien’s Retail business to further strengthen and differentiate our leading global position,” said Chuck Magro, Nutrien president and CEO. “We expect to recognize significant strategic and financial benefits from the transaction by leveraging Agrible’s capabilities to deliver unique, value-enhancing solutions across our Retail network.”
Agrible’s platform is currently being used by approximately 17,000 growers representing some 11 million acres across numerous global geographies, but the company’s largest commercial market is the U.S. Its primary digital product offerings include Morning Farm Report®, Spray Smart®, Nutrient Engine, and Find My Seed®, as well as other complementary digital and mobile offerings.
The transaction is expected to close in late July 2018. Mike Frank, president of Nutrien Ag Solutions, said the Agrible agronomic and sustainability tools will immediately be incorporated into Nutrien’s existing digital platform.