SAO PAULO, July 1 (Reuters) - Israeli minerals and chemicals company ICL Group Ltd said on Thursday it has bought Compass Minerals International Inc's agricultural division in Brazil for approximately $420 million.

"The company is present in 25 of the 26 Brazilian states and serves more than 32,000 farms indirectly and directly, the latter being responsible for approximately 50% of total sales," ICL said in a statement. (Reporting by Nayara Figueiredo in Sao Paulo Editing by Matthew Lewis)