POTASH: Nutrien to buy Waypoint labs

[caption id="attachment_1003723892" align="aligncenter" width="502"] Soil sampling is critical to farm management. (Image: Southeast Produce Weekly)[/caption] SASKATOON – Nutrien Ltd. announced on July 9 that it has entered into a definitive agreement to acquire Waypoint Analytical of Memphis, Tenn. and its operating subsidiaries. Waypoint is the largest agriculture laboratory group in the United States and among the top 25 U.S. environmental lab groups. The company has approximately 250 employees across its operations, which include 11 U.S. laboratories and six service centers that analyze approximately 1.8 million soil samples for the agricultural market on an annual basis. "Waypoint is the leading U.S. provider of integrated agricultural sampling, testing and analytics that generate valuable insights into sustainable soil health and plant fertility for its customers," commented Mike Frank, president of Nutrien Ag Solutions of Loveland, Colo. "Nutrien has been a significant customer of Waypoint for many years – and this acquisition will further strengthen our partnership. The combination of Waypoint's capabilities with Nutrien Ag Solutions' new, integrated digital platform will significantly enhance and accelerate our ability to provide integrated science-based insights, services and unique digital product offerings that will support optimal fertility advice for our customers globally." The acquisition will occur in two tranches, with Nutrien initially acquiring 80% ownership of Waypoint upon closing of the transaction, and the remaining 20% to be acquired by Nutrien following the fifth anniversary of the initial closing. This transaction structure will enable Waypoint to continue supporting new and existing customer relationships under the ongoing leadership of its experienced and respected management team, while also providing for strong, sustainable growth of the business. Learn more about the world’s largest potash producer at www.Nutrien.com.