Nutrien

Overview

Nutrien Ltd.

type	Public company
traded as	tsx: NTR nyse: NTR S&P/TSX 60 Component
industry	Agriculture
predecessors	PotashCorp, Agrium
foundation	2018
location	Saskatoon, Saskatchewan, Canada
num locations	1200 stores (2018)
area served	Worldwide
key people	Ken Seitz (President & CEO),‡R1R‡ and Russ Girling (Executive Chair)
revenue	US$29.056 billion‡R2R‡
revenue year	2023
operating income	US$2.745 billion‡R2R‡
income year	2023
net income	US$1.282 billion‡R2R‡
net income year	2023
assets	US$52.749 billion‡R2R‡
assets year	2023
equity	US$25.201 billion‡R2R‡
equity year	2023
num employees	23,400‡R2R‡
subsid	Agrium, PotashCorp (PCS), Agrichem do Brasil S.A., Agrible, Inc., Actagro, Grupo TEC AGRO,

Nutrien is a Canadian fertilizer company based in Saskatoon, Saskatchewan. It is the largest producer of potash, second largest producer of nitrogen fertilizer in the world and generally the 2nd largest in fertilizers worldwide.[3][4] It has over 2,000 retail locations across North America, South America, and Australia with more than 23,500 employees.[5] It is listed on the Toronto Stock Exchange (symbol ) and New York Stock Exchange (symbol ), with a market capitalization of $34 billion as of January 2018.[5] It was formed through the merger of PotashCorp and Agrium, in a transaction that closed on January 1, 2018.[6]

History

Merger

PotashCorp and Agrium first proposed merging in September 2016. The merger was suggested in the context of low fertilizer prices, leading to the hope that a larger company will be better able to increase prices.[3] The new company also hopes to reduce costs through consolidation; it estimates that it will be able to decrease costs by $500 million USD.[7]

The transaction was originally expected to close in mid-2017, but was delayed to January 2018 because of regulatory hurdles; final regulatory approval from the United States Federal Trade Commission (FTC) was only received in December 2017. Based on the terms of the merger, former PotashCorp shareholders were given 52% of Nutrien, while Agrium shareholders were given 48%.[7] Agrium CEO Charles Magro became CEO of the new company, while PotashCorp CEO Jochen Tilk became Executive Chair.[5] Nutrien is based in Saskatoon, the former headquarters of PotashCorp, but it will maintain corporate offices in Calgary, the former headquarters of Agrium.

In May 2018, Nutrien announced it would sell to Tianqi Lithium a 24% stake in the Chilean mining company Sociedad Química y Minera (SQM) for approximately $4.1 billion.[8][9] Tianqi was to purchase 62.5 million SQM A shares for $65 each. Nutrien needed to satisfy the Chinese and Indian regulators because of concerns it would corner the potash market.[9][10][11] The sale closed on 5 December 2018.[12] In February 2019, Nutrien, through its Australian subsidiary Landmark Operations[13] announced the proposed acquisition of Australian rural retail organization RuralCo.[14] The acquisition was finalized on October 1, 2019, after which Ruralco was delisted from the ASX.[15] After this acquisition, Nutrien now supplies 650 rural merchandise stores in Australia, or approximately 45% of all rural merchandise stores in Australia.[16]

In July 2022, Nutrien announced that it would acquire Brazilian retail fertilizer company Casa do Adubo, increasing its expansion in Latin America.[17]

Nutrien

History

Merger

Competition

External links

References