ICL has completed the acquisition of the Global Professional business of The Scotts Miracle-Gro Company for $270m.
This purchase includes transfer of Global Professional's products, sales and marketing force and R&D resources as well as several factories and peat mines located across the Netherlands, the UK and the US.
Global Professional produces speciality fertilisers, horticultural and turf speciality products.
ICL is a fertiliser and speciality chemicals company, with its major production activities located in Israel, Europe, US, South America and China. The acquisition is expected to double ICL's speciality fertiliser activities, which totalled $250m in 2009.
The Scotts Miracle-Gro Company plans to use the proceeds of the sale for capital investments and debt retirement.
