Louis Dreyfus Sells Australian Business
Fertilizer and inputs distribution business go to Landmark Operations Ltd.
Louis Dreyfus Company (LDC) has entered an agreement to sell its Australian fertilizer and inputs distribution business, Macrofertil Australia Pty Ltd, to Landmark Operations Ltd, the Australian ag-retail business of Canada-based Agrium Inc.
Incorporated in October 2013, Macrofertil Australia Pty Ltd distributes a full range of fertilizers and crop protection products in Western Australia, South Australia and Victoria. The business includes six fertilizer storage and distribution assets with coating and blending capabilities, with annual sales exceeding 300,000 tons and amounting to approximately US$120 million.
Gonzalo Ramírez Martiarena, Chief Executive Officer of Louis Dreyfus Company, said: “This transaction is another step towards the implementation of our strategic roadmap, enabling us to concentrate on businesses with closer ties to product sourcing and strong farmer relationships. We will continue to provide Macrofertil customers in the rest of the world with a wide range of fertilizers and inputs products and outstanding service, leveraging evolving technology.”
Having participated in Australia’s agricultural industry for more than 100 years, LDC remains committed to growing in the country, and will retain an active presence through its merchandising and processing activities across its cotton, grains, oilseeds, dairy and sugar business lines.
Completion of the agreement is subject to customary closing conditions, and is expected to close in the first quarter of 2018.