ICL Group Snaps Nitro 1000, a Manufacturer, Developer and Provider of Biologicals in Brazil for $30M

ICL (NYSE:ICL) (TASE: ICL), a leading global specialty minerals company, today announced it has acquired Nitro 1000, a manufacturer, developer and provider of biologicals in Brazil for approximately $30 million. This acquisition marks another meaningful step into the biologicals market, while expanding ICL's product offerings and positioning the company for further expansions into new and adjacent end-markets.

Nitro 1000 will immediately join the ICL product portfolio, and the company will begin selling to its existing customer base in Brazil. Nitro 1000's products are mainly aimed at soybean, corn and sugar cane crops, and their application replaces or optimizes the use of fertilizers. This not only helps farmers increase profitability, it also offers a more sustainable solution.