Xio Group Buys Triton’s Golf Course Fertilizer UnitAndrew Noël
Xio Group agreed to buy a fertilizer business owned by Triton to expand into professional lawn treatments and solutions for golf courses, nurseries and vineyards.
Terms of the deal for Compo Expert weren’t disclosed, Triton said in a statement. The German private equity firm retains the consumer arm of Compo, which supplies products from potting soil to lawn fertilizers.
Splitting the business may maximize returns on an investment that cost Triton about 205 million euros. Bringing the business back to market coincides with a pick up in demand in Compo’s industrial business and increased interest in agrochemical companies.
Compo competes with companies including Bayer AG and a unit of Syngenta AG.
FMC Corp. agreed to acquire insecticide maker Cheminova for $1.8 billion in September, while Yara ASA failed in an attempt to merge with rival CF Industries Inc., in a deal that would have created the world’s largest fertilizer producer.