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Published: Thursday, 12/9/2010

Scotts to sell division to Israel fertilizer firm

MARYSVILLE, Ohio — Scotts Miracle-Gro Co. is selling its global professional-services business to an Israeli fertilizer-maker for $270 million in a deal expected to close by the end of the year.

Tel Aviv-based Israel Chemicals Ltd. is paying cash for the Scotts unit, which sells specialty fertilizers and plant-protection products to nurseries and greenhouses. The business had sales of $242 million last year, or 8 percent of Scotts' total revenue.

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