Nutrien to buy plant health products maker Actagro for $340 million

(Reuters) - Canadian fertilizer and farm supply dealer Nutrien Ltd said on Tuesday it would buy Actagro LLC, a privately held maker of soil and plant health products, in a deal valued at $340 million.

“Actagro has a strong track record of developing and manufacturing high-value crop nutrition products and we see a significant opportunity to expand the business by leveraging the global reach of our retail network...,” Nutrien Chief Executive Officer Chuck Magro said in a statement.

Nutrien expects the deal to close in the first half of 2019 and add to its earnings in the first year.

The company reports fourth-quarter earnings on Wednesday.

Reporting by Debroop Roy in Bengaluru; Editing by Anil D’Silva