Agrium has entered into a purchase agreement of Nu-Gro from Spectrum Brands. That’s a lot of logos so I’m only using the one that sent the release out.

Agrium will fund the purchase price of $86-million through existing lines of credit. The transaction is expected to close in January 2006 and is subject to regulatory approval. This acquisition provides Agrium with new products with strong, stable margins and is expected to be immediately accretive to earnings. Nu-Gro is a manufacturer of controlled release and professional turf products. Nu-Gro has strong customer relationships and a number of widely recognized brands. Agrium is acquiring the four production facilities that manufacture these products, as well as the Nu-Gro head office in Brantford, Ontario.