Nutrien Ltd. said July 9 that it has entered into a definitive agreement to acquire Waypoint Analytical Inc. and its operating subsidiaries. Waypoint is the largest agriculture laboratory group in the U.S. and among the top 25 U.S. environmental lab groups. The company has approximately 250 employees across its operations, which include 11 U.S. laboratories and six service centers that analyze approximately 1.8 million soil samples for the agricultural market on an annual basis.
Nutrien has been a major customer of Waypoint.
The acquisition will occur in two tranches, with Nutrien initially acquiring 80 percent ownership of Waypoint upon closing of the transaction, and the remaining 20 percent to be acquired by Nutrien following the fifth anniversary of the initial closing.