Overland Park-based Compass Minerals is buying a 35 percent stake in a Brazilian company that manufactures and distributes specialty plant nutrients.
Compass said it will pay $115.9 million for the investment in Produquimica Industria e Comercio SA.
Compass expects to complete the transaction by the end of December.
It said the agreement allows it to gain total ownership of the Sao Paulo-based company by early 2019.
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“Produquimica is a good strategic fit with our existing plant nutrition business, and this investment is an important part of our growth plan,” Fran Malecha, president and chief executive of Compass, said in a statement.