US Compass Minerals to acquire Canada’s Wolf Trax in C$95m deal

20 March 2014 13:50 Source:ICIS News

HOUSTON (ICIS)--US specialty fertilizer firm Compass Minerals has agreed to acquire Canada-based Wolf Trax in a cash deal valued at Canadian dollar (C$) 95m ($84m), it said on Thursday.

Wolf Trax, based in Winnipeg in Canada’s Manitoba province, supplies micronutrients to the fertilizer industry. Its products provide an effective way of delivering nutrients such as boron, zinc, copper and manganese, to the plant.

Compass CEO Fran Malecha said that the acquisition would position Compass “for future growth with new products that serve a greater diversity of crops and geographies in a fast-growing segment of the plant nutrition market.”

($1 = C$1.13)

By Stefan Baumgarten