Pursell Technologies Inc. announced that the company has entered into an agreement to sell business assets to Agrium Inc., a leading global retailer, marketer and producer of crop inputs, specialty fertilizers and industrial products headquartered in Calgary, Alberta, Canada.
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The strategic combination of PTI and Agrium is designed to leverage the strengths of both companies. PTI is best known for pioneering coating technologies with brands such as POLYON polymer-coated fertilizers, TriKote polymer/sulfur coated fertilizers and PRECISE controlled-release pesticide technology. Agrium is a leading global producer of agricultural fertilizers.
The combination of complementary Pursell and Agrium technologies is expected to expedite the availability of Agrium’s environmentally friendly controlled-release fertilizer, ESN, for broad-acre crops. Moreover, this transaction is expected to provide a stronger, more comprehensive product offering—a strategic move aimed at serving customers better by offering them a broader selection of complementary controlled release solutions.
Agrium also will seek to secure global customers for PTI’s flagship product POLYON.
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“This acquisition is strategic for both Pursell Technologies and for Agrium,” says PTI’s CEO David Pursell, who will remain in a leadership position after the sale. “Agrium offers PTI financial strength and global positioning, and we provide Agrium with significant market knowledge, established customer relationships and industry expertise. As part of the Agrium team, we will further test and strengthen our controlled-release technologies by combining our research and development efforts. I’m pleased to be a part of such a strong team, and I’m looking forward to merging our experience and resources.”
PTI is also known for The Experience at FarmLinks—a unique, customer-focused marketing strategy in partnership with Toro, Syngenta and Club Car, as well as many other industry-leading brands. The FarmLinks Golf Course asset, which is a component of the newly established FarmLinks LLC, is not included in the sale; however, Agrium has agreed to provide significant support to this education program.
“We are pleased that the talented PTI team will be joining Agrium,” says Mike Wilson, Agrium’s president and CEO. “We look forward to continuing to build on PTI’s strong customer relationships and its history of technological innovation and success. We intend to integrate PTI into Agrium in a way that is seamless to customers.”
The acquisition of PTI will enhance Agrium’s sales and earnings in the growing specialty fertilizer segment. Regional headquarters will remain at Pursell Farms in Sylacauga, Ala.
