Koch Agronomic Services, LLC reached agreement with Compass Minerals to purchase Compass Minerals' North American micronutrient assets, the global intellectual property rights, with trademarks and patents, and certain other assets associated with the Wolf Trax, Rocket Seeds and Hydro Bullet product platforms.
Through the acquisition of the micronutrient assets, Koch, a leader in nitrogen management additives, will expand its ability to help growers across the world improve efficiency, utilization and uptake of nutrients beyond nitrogen.
According to Steve Coulter, senior vice president of Koch, the agreement allows the company to offer a platform of innovative, efficiency solutions complementary to its existing products. "We are excited to enter the micronutrient business with three product lines that fit our customers' desire to improve distribution of micronutrients across the field in conjunction with dry fertilizers, as seed treatments and as foliar applications," noted Coulter.
Koch currently markets and distributes a portfolio of enhanced efficiency fertilizer products in more than 55 countries.
The transaction is expected to close in April 2021, subject to customary closing conditions.
Last month, Compass Minerals entered into a definitive agreement to divest its South America Plant Nutrition business to ICL Brasil Ltda., a subsidiary of ICL Group (ICL).
