Bayer sells Environmental Science Professional business for $2.6B

The company’s Environmental Science Professional business, including its turf and ornamental solutions, sold to international private equity firm Cinven.

Bayer said it will sell its Environmental Science Professional business, which includes vector control, professional pest management, industrial vegetation management, forestry and turf and ornamentals solutions, to Cinven, an international private equity firm for $2.6 billion USD.

“This divestment represents a very attractive purchase price and allows us to focus on our core agricultural business and the successful implementation of our Crop Science Division growth strategy,” said Rodrigo Santos, member of the board of management of Bayer AG and president of the crop science division.

Bayer announced its decision to divest the business in February 2021. This transaction with Cinven is expected to close in the second half of the year.

“Driven by a shared belief in people and purpose, Cinven will enable the Environmental Science Professional business to advance towards its vision of healthy environments for everyone, everywhere,” Santos said. “We are convinced by Cinven’s focus and its commitment to the long-term growth potential for the business and its people.”

Bayer said the proceeds from the sale will be applied to the company’s net financial debt.

“Bayer’s Environmental Science Professional business is a global leader in a highly attractive and critical industry,” said Pontus Pettersson, partner and head of industrial at Cinven. “We thank Bayer for the trust they have placed in Cinven and plan to build on the strong foundations established by Bayer by significantly investing in it. As a long-established global investment firm, Cinven is well positioned to continue to drive innovation and accelerate growth at Environmental Science Professional, including the delivery of digital and data-enabled solutions, as well as make the business more agile in responding to the unique needs of its markets and customers.”

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