NYSE, TSX: NTR
LOVELAND, CO, July 9, 2018 /PRNewswire/ - Nutrien Ltd.
("Nutrien") is pleased to announce that it has entered into a
definitive agreement to acquire Waypoint Analytical, Inc. and its
operating subsidiaries ("Waypoint"). 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.
"Waypoint is the leading U.S. provider of integrated
agricultural sampling, testing and analytics that generate valuable
insights into sustainable soil health and plant fertility for its
customers," commented Mike Frank,
President of Nutrien Ag Solutions. "Nutrien has been a significant
customer of Waypoint for many years - and this acquisition will
further strengthen our partnership. The combination of Waypoint's
capabilities with Nutrien Ag Solutions' new, integrated digital
platform will significantly enhance and accelerate our ability to
provide integrated science-based insights, services and unique
digital product offerings that will support optimal fertility
advice for our customers globally."
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.
This transaction structure will enable Waypoint to continue
supporting new and existing customer relationships under the
ongoing leadership of its experienced and respected management
team, while also providing for strong, sustainable growth of the
business.
"Nutrien has been a strong and long-standing customer of
Waypoint, and this transaction will build a new foundation for
Waypoint to accelerate our strong track record of providing
value-enhancing solutions and support for all of our customers,"
said Scott McKee, President &
CEO of Waypoint. "Additionally, this partnership will enhance
Waypoint's ability to invest in new capabilities and continue to
grow our business both in the U.S. and in international markets,
where Nutrien has a sizeable and growing retail presence. We
believe that this transaction is a very positive outcome for our
company that will benefit all of our employees and customers going
forward."
About Nutrien
Nutrien is the world's largest provider of crop inputs and
services, playing a critical role in helping growers increase food
production in a sustainable manner. We produce and distribute over
26 million tonnes of potash, nitrogen and phosphate products
world-wide. With this capability and our leading agriculture retail
network, we are well positioned to supply the needs of our
customers. We operate with a long-term view and are committed to
working with our stakeholders as we address our economic,
environmental and social priorities. The scale and diversity of our
integrated portfolio provides a stable earnings base, multiple
avenues for growth and the opportunity to return capital to
shareholders.
FOR FURTHER INFORMATION:
Investor and Media Relations:
Richard Downey
Vice President, Investor & Corporate Relations
(403) 225-7357
Investor Relations:
Jeff
Holzman
Senior Director, Investor Relations
(306) 933-8545
Todd Coakwell
Director, Investor Relations
(403) 225-7437
Contact us at: www.nutrien.com
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SOURCE Nutrien Ltd.