Israel: ICL to buy specialty fertilizers maker Scotts Miracle-Gro Co.

Tel Aviv headquartered Israel Chemicals Ltd. (ICL) offered to buy Scotts Global Professional for US for $270 million. The company sells  specialty fertilizers, greenhouses and specialty crop growers and has anual revenue of about US$242 million, and it is a subsidiary of Scotts Miracle-Gro Co., which manufactures and markets fertilizers, pest controls, plant foods, gardening soils, grass seed, and other products in North America and Europe. This step will allow ICL to duplicate its speciality fertilizers to about 500 million US$ per year. The global market of speciality fertilizers is estimated to be of US$2-2.5 billion dollars per year and its growth rate is of 5-8% p.a., higher than the growth rate of the regular fertilizers, which is of 3-4% p.a.

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