Bayer Completes Sale of Its Environmental Science Skilled Enterprise to Cinven – Joplin Globe

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LEVERKUSEN, Germany–(BUSINESS WIRE)–Oct 5, 2022–

Bayer has accomplished the sale of its Environmental Science Skilled enterprise to the worldwide non-public fairness agency Cinven, after the 2 firms had entered right into a corresponding settlement in March. The circumstances for closing the transaction – together with the receipt of regulatory approval – have now been met. The acquisition value for the enterprise, which generated gross sales of roughly 600 million euros in 2021, quantities to 2.6 billion U.S. {dollars}.

“We thank the staff of Environmental Science Skilled for his or her a few years of dedication and the related success of Bayer. In Cinven, now we have discovered a robust new proprietor with a agency dedication to the long-term development potential of the enterprise and to its individuals,” mentioned Rodrigo Santos, member of the Board of Administration of Bayer AG and head of the Crop Science Division. “On the identical time, we will think about our core agricultural enterprise and the profitable implementation of our development technique within the Crop Science Division.” Bayer will use the web proceeds from the transaction to cut back its internet monetary debt.

The divested enterprise is about to function as an impartial firm referred to as Envu. The enterprise is a worldwide chief providing options to regulate pests, illness and weeds in non-agricultural areas corresponding to vector management, skilled pest administration, vegetation administration, forestry, and turf and ornamentals. It’s headquartered in Cary, North Carolina, United States, and is lively in over 100 nations. Almost 900 staff in whole will switch from Bayer to Envu.

“Envu is a worldwide chief in a extremely enticing and demanding trade. We thank Bayer for the belief they’ve positioned in Cinven and plan to construct on the robust foundations established by Bayer by considerably investing in it,” mentioned Pontus Pettersson, Associate at Cinven. “Cinven is happy to construct an impartial, centered firm and is effectively positioned to proceed to drive innovation and speed up development, together with the supply of digital and data-enabled options, and to increase the product portfolio additional by creating progressive and sustainable options for its prospects.”

About Envu

Envu was based in 2022, a brand new firm constructed on years of Bayer expertise, for the only objective of advancing wholesome environments for everybody, in every single place. Envu provides devoted companies in: Skilled Pest Administration, Forestry, Ornamentals, Golf, Industrial Vegetation Administration, Garden & Panorama, Mosquito Administration, and Vary & Pasture. Throughout every of its strains of enterprise, Envu focuses its work in chemistry and past, collaborating with prospects to provide you with progressive options that can work in the present day and effectively into the long run. Envu’s portfolio consists of over 180 trusted and well-known manufacturers. The corporate employs almost 900 individuals and operates in additional than 100 nations with 4 world innovation hubs. For extra info, go to the Envu website.

About Bayer

Bayer is a worldwide enterprise with core competencies within the life science fields of well being care and vitamin. Its services are designed to assist individuals and planet thrive by supporting efforts to grasp the key challenges introduced by a rising and growing old world inhabitants. Bayer is dedicated to drive sustainable improvement and generate a constructive influence with its companies. On the identical time, the Group goals to extend its incomes energy and create worth by way of innovation and development. The Bayer model stands for belief, reliability and high quality all through the world. In fiscal 2021, the Group employed round 100,000 individuals and had gross sales of 44.1 billion euros. R&D bills earlier than particular objects amounted to five.3 billion euros. For extra info, go to www.bayer.com.

About Cinven

Cinven is a number one worldwide non-public fairness agency centered on constructing world-class world firms. Its funds spend money on six key sectors: Enterprise Companies, Client, Monetary Companies, Healthcare, Industrials and TMT (Expertise, Media and Telecommunications). Cinven has places of work in London, New York, Frankfurt, Paris, Milan, Madrid, Guernsey and Luxembourg. Cinven takes a accountable strategy in direction of its portfolio firms, their staff, suppliers, native communities, the setting and society. www.cinven.com

Ahead-Wanting Statements

This launch might include forward-looking statements based mostly on present assumptions and forecasts made by Bayer administration. Numerous identified and unknown dangers, uncertainties and different elements may result in materials variations between the precise future outcomes, monetary state of affairs, improvement or efficiency of the corporate and the estimates given right here. These elements embrace these mentioned in Bayer’s public stories which can be found on the Bayer web site at www.bayer.com. The corporate assumes no legal responsibility by any means to replace these forward-looking statements or to adapt them to future occasions or developments.

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CONTACT: Contact for media inquiries:

Bayer AG

Dr. Rolf Ackermann, telephone +49 214 30-41782

Electronic mail:[email protected]

Jennifer Poore, Tel. +1 919 475-5814

E-Mail:[email protected] for investor inquiries:

Bayer Investor Relations Group, telephone +49 214 30-72704

Electronic mail:[email protected]

www.bayer.com/en/investors/ir-teamFind extra info atwww.bayer.com.

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KEYWORD: GERMANY EUROPE

INDUSTRY KEYWORD: HEALTH OTHER HEALTH FITNESS & NUTRITION OTHER SCIENCE GENERAL HEALTH RESEARCH SCIENCE

SOURCE: Bayer

Copyright Enterprise Wire 2022.

PUB: 10/05/2022 09:30 AM/DISC: 10/05/2022 09:32 AM

http://www.businesswire.com/news/home/20221004005783/en



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