The Scotts Miracle-Gro Company has received a binding offer from ICL to acquire its Global Professional business - supplying horticultural growers, turf professionals, landscapers and farmers. The proposed sale is expected to close between January 2 and April 2, 2011.
This proposed transaction is consistent with ScottsMiracle-Gro's 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 fertilizer category, with vast natural resources of key nutrients and a specialty fertilizer division. ICL is focused on growing its business in value-added specialty and enhanced efficient fertilizers as well as in other horticulture and turf products, including growing media, plant protection products and grass seeds (www.icl-group.com).
Scotts Professional believe that combining its unique technologies and technical know-how with ICL's impressive resources would ultimately contribute to more innovative and sustainable products for horticultural growers, turf professionals, landscapers and farmers.
For further information please contact Stephen Squires, Business Director of Scotts UK & Ireland Professional, Tel: + 44 (0)1473 201151.