Compass Minerals to Acquire Wolf Trax, Inc.
March 20 2014 - 7:00AM
Business Wire
Broadening Product Offering to Include Plant
Micronutrients
Compass Minerals (NYSE:CMP) has signed a definitive agreement to
acquire Wolf Trax, Inc., an innovative micronutrient company, in an
all-cash transaction valued at CA$95 million (US$85 million),
subject to customary post-closing adjustments.
“Wolf Trax® brand products are well recognized by fertilizer
customers for the differentiated technology they bring to the
application of micronutrients. This acquisition will position us
for future growth with new products that serve a greater diversity
of crops and geographies in a fast-growing segment of the plant
nutrition market,” said Fran Malecha, Compass Minerals president
and CEO. “Both Wolf Trax products and Compass Minerals’ sulfate of
potash products offer customers a compelling value proposition.
With Wolf Trax’s strong product development and value-added sales
capabilities, we will become the go-to source for premium plant
nutrition products.”
Wolf Trax brand micronutrients are formulated to coat and adhere
to each prill of dry fertilizer, providing a more precise and
effective way of delivering important nutrients, such as boron,
zinc, copper and manganese, directly to the plant.
Headquartered in Winnipeg, Manitoba, Wolf Trax generated sales
of approximately CA$20 million in 2013. Compass Minerals will
fund the purchase with cash on hand.
For more information about Compass Minerals’ plans to acquire
Wolf Trax, please see the company’s presentation at
www.CompassMinerals.com/presentation.
About Compass Minerals
Based in the Kansas City metropolitan area, Compass Minerals is
a leading producer of minerals, including salt, sulfate of potash
specialty fertilizer and magnesium chloride. The company provides
highway deicing salt to customers in North America and the United
Kingdom and specialty fertilizer to growers worldwide. Compass
Minerals also produces consumer deicing and water conditioning
products, ingredients used in consumer and commercial foods, and
other mineral-based products for consumer, agricultural and
industrial applications.
This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements are based on the Company's current
expectations and involve risks and uncertainties that could cause
the Company's actual results to differ materially. The differences
could be caused by a number of factors including those factors
identified in the “Risk Factors” sections of our Annual and
Quarterly Reports on Forms 10-K and 10-Q. The Company undertakes no
obligation to update any forward-looking statements made in this
press release to reflect future events or developments.
Compass MineralsPeggy Landon, 913-344-9315Director of Investor
Relations and Corporate CommunicationsorTheresa Womble,
913-344-9315Manager of Investor Relations
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