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Fertiglobe , the world鈥檚 largest seaborne exporter of urea and net ammonia combined and the leading nitrogen fertilizer producer in the Middle East and North Africa, has signed an agreement to acquire the distribution assets of Wengfu Australia Pty Ltd.

Wengfu is a major fertilizer distributor in South-East Australia, operating from five ports and eight warehouses. The company annually supplies between 700,000 and 800,000 metric tons of fertilizers to over 200 customers, with capacity to increase distribution to 1.1 million tons. This makes Wengfu a key supplier in one of the world鈥檚 most rapidly expanding and high-quality agricultural markets.

The acquisition will be based on Wengfu鈥檚 net asset value, which includes fully recoverable working capital and liquid inventory, plus a premium of approximately $8 million. The transaction is expected to be accretive to earnings per share and will be funded through pre-arranged trade facilities, with minimal impact on leverage and no effect on Fertiglobe鈥檚 dividend capacity.

Wengfu鈥檚 seasoned team and strong customer relationships will be retained to ensure continuity and support future growth. The acquisition aligns with Fertiglobe鈥檚 strategy to strengthen its presence in strategic markets, diversify its global operations, and increase resilience against seasonality.

This move also gives Fertiglobe access to a broader customer base, greater supply chain efficiencies, and the opportunity to introduce enhanced-efficiency and sustainable fertilizers. It expands the company鈥檚 product portfolio to include non-nitrogen fertilizers and enhances its flexibility in sourcing across the Asia-Pacific region.

鈥淭he acquisition of Wengfu鈥檚 assets is a strategic milestone in our value-driven growth plan,鈥� said Ahmed El-Hoshy, CEO of Fertiglobe. 鈥淚t accelerates our commercial footprint in Australia and gives us a robust distribution platform across Asia-Pacific. We鈥檝e known Wengfu鈥檚 team for years and are confident in their ability to scale the business. This step reinforces our global leadership in the nitrogen fertilizer sector and supports our commitment to expanding in key markets.鈥�

The transaction is subject to customary regulatory and legal approvals.

Fertiglobe recently received shareholder approval for H2 2024 dividends totaling $125 million, bringing full-year dividends to $275 million. This reflects a leading yield of more than 5%, underlining the company鈥檚 strong financial position and commitment to delivering shareholder value.

Fertiglobe is the world鈥檚 largest seaborne exporter of combined urea and ammonia and a pioneer in the sustainable ammonia space. With a total production capacity of 6.6 million tons of urea and merchant ammonia, the company operates through four subsidiaries located in the United Arab Emirates, Egypt, and Algeria. This makes Fertiglobe the leading nitrogen fertilizer producer in the Middle East and North Africa (MENA) region. The company benefits from direct access to six strategic ports and distribution hubs across the Mediterranean Sea, Red Sea, and the Arabian Gulf. Headquartered in Abu Dhabi and incorporated within the Abu Dhabi Global Market (ADGM), Fertiglobe employs a workforce of more than 2,700 people.