ICL Group Ltd (NYSE: ICL) revealed that it has purchased Compass Minerals América do Sul S.A. The firm has inked an agreement to buy Compass Minerals América do Sul S.A., which includes the South American Plant Nutrition business of Compass Minerals. The firm has bought the Nutrition Business for nearly R$2,207 million.

This amount includes the assumption of nearly R$600 million (~US$109 million) of net debt and is dependent on traditional post-closing adjustments. Additionally, the deal includes an earnout of up to nearly R$88 million (~US$16 million). After the execution of the deal, ICL anticipates it will be able to provide the broadest and most sophisticated portfolio of plant nutrition products covering the whole agricultural value chain.

The shares of ICL Group Ltd went down 2.47% as its shares lost -0.15 during the trading session of Tuesday. In the past 52-weeks of trading, the firm share went from the low point around $2.88 to and high point around $6.13. The firm has a total market capitalization of $7.58 billion at the time of writing.

Furthermore, its increased customer base will span from B2B providers such as plant nutrition manufacturers and bulk blenders to B2C partners such as ag-input retailers, co-operatives, and large farms. The merged businesses will utilize a well-established asset base, with a total of eight manufacturing facilities and a substantial salesforce delivering full industrial reporting for all agricultural regions in Brazil.