Global agrimerchant Louis Dreyfus Co (LDC) entered into an agreement on 12 December to sell its Australian fertiliser and inputs distribution business Macrofertil Australia to Landmark Operations, a subsidiary of Canadian agri trader Agrium.
Macrofertil Australia distributed a full range of fertilisers and crop production products in the states of Western Australia, South Australia and Victoria, LDC said in a statement.
The business included six fertiliser storage and distribution assets with coating and blending capabilities, with annual sales exceeding 272,000 tonnes, equalling roughly US$120M.
“We will continue to provide Macrofertil customers in the rest of the world with a wide range of fertilisers and inputs products and outstanding service, leveraging evolving technology,” said LDC CEO Gonzalo Ramírez Martiarena.
LDC said it intended to maintain an active presence in the Australian agricultural industry where it has participated for more than 100 years through merchandising and processing activities in the oilseeds, cotton, grains, dairy and sugar businesses.
The sale of Macrofertil was expected to close in the first quarter of 2018, subject to customary closing conditions.