Business Acquisition

3 Months Ended

Mar. 31, 2012

Business Acquisition [Abstract]

Business Acquisition

12. Business Acquisition

On January 31, 2012, the Company purchased 100% of the stock of New Eezy Gro, Inc. ("NEG") for a purchase price of $16.8 million. New Eezy Gro is a manufacturer and wholesale marketer of specialty agricultural nutrients and industrial products.

The summarized preliminary purchase price allocation is as follows:

(in thousands)
Current assets	$	5,106
Intangible assets		9,600
Goodwill		6,681
Property, plant and equipment		3,586
Current liabilities		(3,784	)
Deferred tax liability, net		(4,412	)
Total purchase price	$	16,777

The goodwill recognized as a result of the NEG acquisition is $6.7 million and is included in the Plant Nutrient reportable segment. The goodwill relates to the value of proprietary products and processes as well as an assembled workforce.

Details of the intangible assets acquired are as follows:

(in thousands)	Fair Value		Useful Life
Trademarks	$	1,200		10 years
Customer list		5,500		10 years
Technology		2,100		5 years
Noncompete agreement		800		7 years
Total identifiable intangible assets	$	9,600