ICL to take over Scotts' Professional business
The Scotts Miracle-Gro Company has received a binding offer from ICL to acquire its Global Professional business
The proposed sale is expected to close between January 2 and April 2, 2011.
This proposed transaction is consistent with ScottsMiracle-Gro¹s strategic plan to focus more intently on its core Global Consumer business. Meanwhile, the Global Professional business is excited about the opportunity to become part of ICL because it believes it would strengthen the business.
ICL is a leader in the global fertiliser category, with vast natural resources of key nutrients and a speciality fertiliser division. ICL is focused on growing its business in value-added specialty and enhanced efficient fertilisers as well as in other horticulture and turf products, including growing media, plant protection products and grass seeds (www.icl-group.com).
Scotts Professional believes that combining its technologies and technical know-how with ICL¹s impressive resources would ultimately contribute to more innovative and sustainable products for horticultural growers, turf professionals, landscapers and farmers.