Apr. 9, 2021
Koch Agronomic Services, LLC (Koch) reached agreement with Compass Minerals (NYSE: CMP) 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 global leader in nitrogen management additives, will expand its ability to help growers across the world improve efficiency, utilization, and uptake of nutrients beyond nitrogen.
"At Koch, we strive to provide solutions to make every ton of nutrient applied more efficient than it is today, and this agreement allows us to offer a platform of innovative, efficiency solutions complementary to our existing products," said Steve Coulter, senior vice president of Koch. "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."
Koch currently markets and distributes a proven portfolio of enhanced efficiency fertilizer products in more than 55 countries and looks forward to continuing the growth and innovation of the micronutrient product portfolio.
"Compass Minerals has been proud to grow the Wolf Trax product line and introduce both Rocket Seeds and Hydro Bullet into the specialty plant nutrition market," said Kevin S. Crutchfield, Compass Minerals president and CEO. "We're excited to see how these three innovative micronutrient product lines can continue to develop in the hands of a strong sector leader like Koch."
The transaction is expected to close in April 2021, subject to customary closing conditions.