Agrium Inc. has agreed to sell its turf and ornamental business to Koch Agronomic Services.The deal includes assets, brands and product technologies of Calgary, Alberta-based Agrium's former Agrium Advanced Technologies business unit. That includes all rights to all of Agrium's controlled-release fertilizers, including the Polyon brand as well as production facilities in Sylacauga, Alabama, once owned by the Pursell family. The Pursell family sold its fertilizer business to Agrium in 2006.
Koch Agronomic Services, a division of Koch Fertilizers with headquarters in Wichita, Kansas, makes a full line of fertilizer products, including nitrogen stabilizer and slow-release nitrogen products for the turf and ornamental and agricultural markets.
The deal, worth $85 million, according to the Calgary Herald, is expected to close in the second quarter.