Fertiglobe has agreed to acquire the distribution assets of Wengfu Australia. Wengfu operates in South-East Australia from five ports with eight warehouses, distributing 700-800kt of fertilizers annually to over 200 customers.

The transaction is expected to be earnings per share accretive. Wengfu is a leading supplier in one of the world's fastest-growing agricultural markets, known for high-quality standards and a well-established supply chain.

The acquisition aligns with Fertiglobe's strategy to expand its presence in key strategic sectors, diversify its global footprint, and build resilience against seasonality.

It provides access to a broader customer base, unlocks supply chain efficiencies, and supports the introduction of enhanced-efficiency and sustainable fertilizers. The transaction is subject to customary regulatory and legal approvals.

Ahmed El-Hoshy, Chief Executive Officer of Fertiglobe, commented: "Acquiring Wengfu’s assets marks a strategic step in our value-driven growth strategy and accelerates our commercial footprint in Australia - one of the world’s fastest-growing agricultural regions. It also provides us with a strong distribution platform across the Asia-Pacific region, strengthens access to our customers, and enhances our ability to competitively source and deliver our products and services. Having known Wengfu’s team for several years, we have strong confidence in their ability to grow the business from here. The transaction is in line with our ambitions to expand our presence in key markets and reinforces our leadership position in the global nitrogen industry."