Agrium's Loveland Products Buys Controlling Interest In Agricen - Quick Facts

(RTTNews) - Loveland Products, a subsidiary of Agrium Inc. (AGU, AGU.TO) and a provider of high-performance crop input products and proprietary products provider for Agrium Retail globally, announced that it has acquired a controlling interest in Agricen, a Dallas-area agricultural biotechnology company delivering biochemical-based products for efficient and sustainable plant nutrition. Financial terms of the deals were not disclosed.

Agricen manufactures two of Loveland Products' plant nutrition brands, Accomplish LM and Titan PBA, which are biologically derived products designed to enhance fertilizer efficiency. Agricen will operate as a Loveland Products subsidiary under its present name.

Loveland Products has also acquired an interest in Agricen's sister company, Agricen Sciences, an applied sciences research company developing novel microbial and biochemical solutions for plant health and nutrition.

As per the terms of the agreement, Brent Smith, who currently serves as Vice President of Loveland Products, will take on the role of Chairman of the Board of Agricen, and will serve on the Board of Agricen Sciences. Jeff Tarsi, Vice President of Strategy and International Retail for Crop Production Services will also join the Agricen Board.

Loveland Products is the proprietary products provider for all of Agrium Retail in North America, Australia and South America, including Crop Production Services.