ICL has offered to acquire Scott’s Global Professional business for $270 million from The Scotts Miracle-Gro Company. The proposed transaction includes the brands; products; employees; and RD resources associatedwith Global Professional. The deal also includes a plant in the U.S., The Netherlands, and the U.K. as well as three peat mines in the U.K. Global Professional’s sales for its fiscal year ended September 30, 2010 were about $242 million, and its pro forma EBIDTA was $31.4 million. ICL expects the combined specialty fertilizer businesses expand to sales of about $500 million. The company did not provide a time line for meeting that goal. Global Professional sells specialty fertilizers, growing media, and plant protection products to commercial nurseries, greenhouses,and specialty crop growers in the Americas, Europe, Mideast, Africa, and Asia. The business’s product line includes proprietary high-quality controlled-release fertilizers (CRF), slow release fertilizers, water-soluble fertilizers (WSF), plant protection products, wetting agents, growing media, and grass seeds sold under the Osmocote-, Sierrablen-, and Peters Professional-branded names.
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