Processing Magazine

Israel Chemicals to Pay $270 Million for Scotts Unit

December 9, 2010

According to MarketWatch, Israel Chemicals Ltd., the Tel Aviv provider of fertilizer and chemicals, will pay $270 million for Scotts Miracle-Gro Co.''s global professional business. The Israeli firm said the Scotts assets involved in the deal include specialty fertilizers, plant-protection products, greenhouses, factories, peat mines and more. The business employs 340 people, including 200 in technical sales and marketing. The deal is subject to Scotts, the Marysville, Ohio, provider of lawn-and-garden-care products, meeting certain presale conditions and the two sides reaching a sale accord.