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Article: Agrium Acquires 18 Retail Outlets in Argentina, Chile, and Bolivia
- Article from:
- CCNMatthews Newswire
- Article date:
- February 2, 2005
CopyrightCopyright 2005 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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CALGARY, ALBERTA--(CCNMatthews - Feb. 2, 2005) -
ALL AMOUNTS ARE STATED IN U.S.$
Agrium Inc. (TSX:AGU) (NYSE:AGU) announced today that it has
acquired the retail operations of United Agri Products (UAP) South
America. While the specific terms of the transaction are
confidential, the primary investment is in working capital. The
transaction includes 18 retail locations (12 Argentina; 4 Chile; 2
Bolivia) with net sales of $31-million for the year ended February
29, 2004. Agrium's existing 21 Agroservicios Pampeanos S.A. (ASP)
farm centres had net sales of $92-million for 2003.
"We believe this acquisition offers a number of benefits to
Agrium," said Mike Wilson, Agrium's President and CEO. ...