Spain: Israel Chemicals buys fertilizer company Fuentes

Israel Chemicals Ltd. (ICL), one of the world’s leading integrated fertilizer and specialty chemical companies, has acquired Spanish fertilizer company Antonio Fuentes Mendez SA. The company did not disclose the size of the deal. The acquisition includes all four companies of the Fuentes group, its production line of liquid fertilizers, soluble fertilizers, and the production line of field fertilizer compounds. Fuentes has production plants in southern Spain, facilities at the Cartagena Port, offices, and other facilities.

Israel Chemicals’ specialty fertilizer sales total $650 million a year, and Fuentes had a turnover of €113 million ($163 million) in 2010.

This acquisition will turn Israel Chemicals into the leading supplier of specialty fertilizers for agriculture in the Spanish market, which is growing rapidly and is the largest market for specialty fertilizers in the EU.

ICL is a major producer of potash, compound potash and phosphate fertilizers, food grade phosphoric acid, elemental bromine, magnesium and a major player in specialty chemical high margin niche markets. In December 2010, Israel Chemicals acquired Scotts’ Global Professional business (Global Pro) from The Scotts Miracle-Gro Company for $270 million.

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