Waypoint is US’s largest agriculture laboratory and is among the top 25 US environmental laboratory groups. The company has approximately 250 employees across its operations, which include 11 US laboratories and six service centres that analyse approximately 1.8 million soil samples for the agricultural market on a yearly basis.
Mike Frank, President of Nutrien Ag Solutions, said: “Waypoint is the leading US provider of integrated agricultural sampling, testing and analytics that generate valuable insights into sustainable soil health and plant fertility for its customers.
“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 on 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 allow Waypoint to continue supporting both new and existing customer relationships under the on going leadership of its experienced and respected management team, while also providing for strong, sustainable growth of the business.
Scott McKee, President and CEO of Waypoint, said: “Nutrien has been a strong and long-standing customer of Waypoint, and this transaction will build a new foundation for Waypoint to accelerate our strong track record of providing value-enhancing solutions and support for all of our customers.
“Additionally, this partnership will enhance Waypoint's ability to invest in new capabilities and continue to grow our business both in the US and in international markets, where Nutrien has a sizeable and growing retail presence. We believe that this transaction is a very positive outcome for our company that will benefit all of our employees and customers going forward.”
Read the article online at: https://www.worldfertilizer.com/environment/13072018/nutrien-to-acquire-waypoint-analytic/