Nutrien Ltd., Saskatoon, Sask., on Sept. 30 announced the close of its acquisition of Ruralco Holdings Limited in Hobart, Tasmania. Nutrien said the combination of Ruralco’s business with its Landmark operations is expected to provide significant benefits for stakeholders and enhance the delivery of products and services to Australian farmers.
Nutrien announced in February 2019 that it had entered into a binding agreement to acquire all the shares of Ruralco at a price of A$4.40 per share, for a total purchase price of $469 million. Ruralco is one of Australia’s leading agriservices businesses, with 216 farm centers and more than 500 locations company-wide. Nutrien said it has steadily grown its retail business and earnings in Australia, with annual EBITDA expected to surpass US$230 million in 2020, of which approximately US$70 million is anticipated to come from the Ruralco acquisition, after accounting for expected synergies.