Bayer has completed the sale of its Environmental Science Business ("Environmental Science Professional") to Cinven. The agreement was signed in March. The value of the deal was US$2,6 billion (EUR 2,6 billion). In 2021, this part of the company generated sales of approximately EUR 600 million.
“We thank the employees of Environmental Science Professional for their many years of commitment and the associated success of Bayer,” said Rodrigo Santos, Member of the Board of Management of Bayer AG and Head of the Crop Science Division.
"At the same time, we can focus on our core agricultural business and the successful implementation of our growth strategy in the Crop Science Division," he added.
Bayer will use the proceeds from the transaction to reduce its financial debt.
The sold unit will operate as an independent company, called Envu. The business is a global leader offering solutions to control pests, diseases and weeds in non-agricultural areas, such as vector control, professional pest management, vegetation management, forestry, and lawn and ornamentals.
It is headquartered in Cary, North Carolina, United States, and is active in more than 100 countries. In total, almost 900 employees will be transferred from Bayer to Envu.
"Envu is a global leader in a highly attractive and critical industry. We thank Bayer for the trust placed in Cinven and we plan to build on the strong foundations laid by Bayer by investing significantly in it," said Pontus Pettersson, Partner at Cinven.
"Cinven is excited to build an independent, focused company and is well positioned to continue to drive innovation and accelerate growth, including the delivery of digital and data solutions, and to further expand the product portfolio by creating innovative solutions and sustainable solutions for its customers", concluded Pettersson.
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