ICL Expands Portfolio with $60 Million Acquisition of Custom Ag Formulators

ICL, a prominent global specialty minerals enterprise, has finalized the acquisition of Custom Ag Formulators (CAF), a North American frontrunner in customized agricultural formulations, for approximately $60 million. CAF's expansive portfolio, encompassing liquid adjuvants, enhanced nutrients, and other specialized products, aligns strategically with ICL's Growing Solutions division. This acquisition, the second of the year, underscores ICL's commitment to expanding its product range and cultivating growth within new and adjacent market segments.

CAF provides tailored agricultural formulations and packaging solutions through its two facilities located in the United States. The company operates a production site in Fresno, California, and another in Adel, Georgia. These facilities are equipped to manufacture both liquid and dry formulations, ensuring a versatile approach to agricultural needs. The strategic positioning of these sites enables CAF to offer efficient distribution, with the capability to ship products on the same day to critical growing regions across the East and West Coasts, as well as the Central U.S. This logistical advantage supports timely delivery and meets the demands of diverse agricultural markets effectively.

Elad Aharonson, president of ICL Growing Solutions, expressed enthusiasm about Custom Ag Formulators joining ICL, highlighting their expertise as a valuable addition for U.S. customers. He noted that this acquisition supports the expansion of ICL’s global Growing Solutions business by enhancing their ability to cater to the specific needs of local growers. By integrating Custom Ag Formulators, ICL aims to better address the diverse nutritional requirements of farmers, particularly in the West Coast and Southeast regions, where crop needs vary significantly. This move strengthens ICL's distribution network and local presence, aligning with their commitment to tailored, effective agricultural solutions.

Patrick Murray, principal and director of sales at Custom Ag Formulators, reflected on the company's dedication to delivering high-quality products with custom formulations and packaging efficiently. He emphasized that for over 25 years, Custom Ag Formulators has been at the forefront of the industry in terms of customer service, quality, and innovation. Murray expressed enthusiasm about advancing this mission in partnership with ICL Group, highlighting the opportunity to further enhance their impact and continue leading in product excellence and service within the agricultural sector.

ICL Group stands as a prominent global leader in specialty minerals, dedicated to addressing sustainability challenges across food, agriculture, and industrial sectors. The company harnesses its distinctive resources, including bromine, potash, and phosphate, to develop impactful solutions. ICL's success is further supported by its skilled global workforce and a commitment to sustainability through cutting-edge research and development (R&D) and technological innovation. By integrating these elements, ICL drives growth and delivers value across its various markets, positioning itself as a key player in advancing sustainable practices and addressing critical global needs through its specialized product offerings and solutions.