Calgary’s Agrium to buy agriculture retail outlets in U.S. Midwest

CALGARY – Agrium Inc. will acquire 18 retail locations throughout the U.S. Midwest in several states bordering Canada.

The seller is Cargill AgHorizons, part of one of North America’s largest grain and agricultural products businesses.

The transaction doesn’t involve Cargill’s Canadian retail business.

Calgary-based Agrium (TSX:AGU) says the agricultural retail outlets generate about $150 million per year in revenue but it didn’t announce what it will pay for them.

Agrium is a wholesale fertilizer producer with a retail network that sells crop nutrients such as fertilizer, crop protection products such as insecticides, seed and other agricultural products.

It has a total of 1,400 retail locations worldwide, most of them in the U.S.