Agrium Buys CerealToscana And Its Romanian Unit Agroport

05.04.2011 By Andrei Circhelan

Canadian farming solutions provider Agrium bought Italian fertilizer maker CerealToscana along with its Romanian subsidiary, Agroport, for a total $27 million, added with working capital.

"The combined companies have a stable financial record with gross sales of approximately $200 million and an average EBITDA of $8 million over the past three years, before anticipated synergies," Agrium said in a news release.

The two companies sell an annual total 400,000 tons of fertilizer.

Agroport was founded in 1996 and it is active in the wholesale of chemicals. It is 68.76% owned by CerealToscana, while Romanian Trans Europa Management holds 31.23%.