CVR Partners LP agreed to acquire Rentech Nitrogen Partners LP for $533 million in cash and stock, extending a wave of consolidation in the fertilizer industry as producers look to boost efficiency and grab market share.

The deal values Los Angeles-based Rentech Nitrogen at $13.69 a share based on Friday’s closing price for CVR, the companies said in a statement Monday. That’s 33 percent above where Rentech Nitrogen ended last week.

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