Business
Nutrien Announces Agreement to Purchase Waypoint Analytical, a Leading U.S. Agricultural Lab and Soil Science Company
Nutrien Announces Agreement to Purchase Waypoint Analytical, a Leading U.S. Agricultural L...
About this update from Nutrien Ltd.
[{"type":"text","content":"\n\n\n\nNutrien Announces Agreement to Purchase Waypoint Analytical, a Leading U.S. Agricultural Lab and Soil Science Company\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nLOVELAND, CO, July 9, 2018\n\n\n\nNYSE, TSX: NTR\n\n\n\nLOVELAND, CO, July 9, 2018 /CNW/ - Nutrien Ltd. (\"Nutrien\") is pleased to announce that it has entered into a definitive agreement to acquire Waypoint Analytical, Inc. and its operating subsidiaries (\"Waypoint\"). Waypoint is the largest agriculture laboratory group in the U.S. and among the top 25 U.S. environmental lab groups. The company has approximately 250 employees across its operations, which include 11 U.S. laboratories and six service centers that analyze approximately 1.8 million soil samples for the agricultural market on an annual basis.\n\n\"Waypoint is the leading U.S. provider of integrated agricultural sampling, testing and analytics that generate valuable insights into sustainable soil health and plant fertility for its customers,\" commented Mike Frank, President of Nutrien Ag Solutions. \"Nutrien has been a significant customer of Waypoint for many years - and this acquisition will further strengthen our partnership. The combination of Waypoint's capabilities with Nutrien Ag Solutions' new, integrated digital platform will significantly enhance and accelerate our ability to provide integrated science-based insights, services and unique digital product offerings that will support optimal fertility advice for our customers globally.\"\n\nThe acquisition will occur in two tranches, with Nutrien initially acquiring 80 percent ownership of Waypoint upon closing of the transaction, and the remaining 20 percent to be acquired by Nutrien following the fifth anniversary of the initial closing. This transaction structure will enable Waypoint to continue supporting new and existing customer relationships under the ongoing leadership of its experienced and respected management team, while also providing for strong, sustainable growth of the business.\n\n\"Nutrien has been a strong and long-standing customer of ...