ICL accelerates biological portfolio with Nitro 1000 acquisition

February 28, 2024

ICL, a specialty minerals company, has acquired Nitro 1000, a manufacturer, developer and provider of biologicals in Brazil, for approximately $30 million.

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. In a news release, ICL stated it expects the integration of Nitro 1000 to benefit from its two recent acquisitions in Brazil, including the South American plant nutrition business of Compass Minerals and Fertiláqua, both in 2021.

“This acquisition allows us to leverage our global Growing Solutions business to develop new products and technology, while benefitting from our existing production capacity and go-to-market strategy,” said Elad Aharonson, president of ICL Growing Solutions. “It will also enable us to continue to increase market share and leadership in Brazil specialty plant nutrition.”

Nitro 1000 was founded in 2007; Iris Guindani, one of the founders, will remain as head of operations.

Related Posts