Business

Cinven to buy Bayer’s Environmental Science Professional business

Cinven to buy Bayer’s Environmental Science Professional business
Cinven and Bayer have reportedly signed a definitive agreement concerning the sale of the latter’s Environmental Science Professional business for a value of USD 2.6 billion.

Commenting on this venture, the President of the Crop Science Division and the Member of the Board of Management of Bayer AG and Rodrigo Santos expressed that the divestment showcases a lucrative purchase price and enables the company to emphasize its core agricultural business. It also demonstrates the successful execution of the growth strategy of the Crop Science Division.

Santos added that Cinven will allow the business to further move towards its objective of healthy environment everywhere for everyone. The deal is anticipated to be executed in the second half of this year, subject to the fulfilment of customary closing conditions. The net proceeds are to be utilized to curb the net financial debt of Bayer.

According to Cinven’s Partner and Head of Industrial, Pontus Pettersson, the company is well placed to continue prompt innovation and expedite growth at Environmental Science Professional comprising the delivery of data-enabled and digital solutions as well as increase the flexibility of the business as a response to the distinct needs of its customers and markets.

It should be noted that Environmental Science Professional is a worldwide leader providing environmental solutions to curb diseases, pests, and weeds in non-farming areas like professional pest management, vector control, forestry, turf and ornamentals, and vegetation management.

Last year, the business had nearly 800 employees supporting sales and operations in over 100 countries. The company is headquartered in Cary, North Carolina.

For the record, Bayer has core capabilities in the life science fields of nutrition and healthcare. The company’s products and services are developed to assist people and the planet grows by backing efforts to excel the crucial challenges presented by an aging and a growing global population.

Source credits: https://www.businesswire.com/news/home/20220309005935/en/Bayer-to-Sell-Its-Environmental-Science-Professional-Business-to-Cinven-for-2.6-Billion-U.S.-Dollars

About the author

ahadmin

ahadmin has been a part of the content industry for close to two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles for alpenhornnews.com, across a slew of topics, ranging from technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of deep-dive research and a strategic approach in his write ups.