Business

Compass Minerals to buy rest of Brazilian plant nutrition company

Compass Minerals Inc., an Overland Park-based producer of road salt and fertilizer, on Monday announced an agreement to acquire the remaining 65 percent stake it doesn’t already own in a Brazilian plant-nutrient supplier.

The company purchased 35 percent of Produquímica Indústria e Comércio SA in December.

The expected price for the remaining stake is $310 million to $330 million. In addition, Compass said it will assume about $150 million in long-term debt, which would raise the total value of the deal to as much as $480 million.

The deal will add 12 to 15 cents of earnings per share this year, Compass said.

“The purchase ... marks an important milestone for Compass Minerals in the execution of our growth strategy,” Compass CEO and president Fran Malecha said in a statement.

Compass said it expects to complete the purchase of the Sao Paulo-based company in October.

The Star

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