Nutrien Announces Agreement to Acquire Agrible

Nutrien (TSX:NTR,NYSE:NTR) reports it has entered into a definitive agreement to acquire private company Agrible Inc., for total consideration of US$63 million.

Agrible is a digital agriculture company with an advanced platform and product offering that includes a broad set of agronomic and on-farm advisory tools, data science capabilities, predictive analytics and a global sustainability business that connects growers with leading agricultural, food and consumer products companies to measure, benchmark and empower sustainable crop production.

As quoted from the press release:

Agrible’s platform is currently being utilized by growers and sustainability partners across numerous global geographies, with the US representing the company’s largest commercial market. Its primary digital product offerings include Morning Farm Report®, Spray Smart®, Nutrient Engine and Find My Seed®, which are accompanied by numerous other complementary digital and mobile offerings. Based in Champaign, Illinois, Agrible currently has 55 employees, with approximately 17,000 grower users that represent approximately 11 million acres in aggregate.

“The acquisition of Agrible is consistent with our strategy of investing in the growth of Nutrien’s Retail business to further strengthen and differentiate our leading global position,” said Chuck Magro, President & CEO of Nutrien. “We expect to recognize significant strategic and financial benefits from the transaction by leveraging Agrible’s capabilities to deliver unique, value-enhancing solutions across our retail network.”

Click here to read the full press release