History
2022: Bayer sold pest control business for €2.4 billion
On March 10, 2022, private investment Cinven agreed to buy an Environmental Science Professional pest control unit from Bayer AG for €2.4 billion. The deal optimizes the portfolio of the German Bayer crop production division and will allow you to focus on your main agricultural business in order to increase the efficiency of core operations, the company said in a statement. BofA Securities acted as financial advisor to Bayer, and Hengeler Mueller acted as legal advisor.
The sale is part of Bayer's efforts to focus on next-generation products that can help global farmers increase crops in a warming planet. This implies the creation of more genetically modified seeds, updated pesticides and digital tools that increase efficiency in the agricultural business. The sale of the unit also reduces Bayer's exposure to small customers, such as gardening enthusiasts and gardeners, who make up a significant part of Roundup litigation.
 | We thank Bayer for its trust in Cinven and plan to develop the solid foundation laid by Bayer through significant investment in it. As a long-established global investment company, Cinven has every opportunity to continue innovation and accelerate the growth of Environmental Science Professional, including the provision of digital and data-based solutions, as well as to make the business more flexible in responding to the unique needs of its markets and customers - said Cinven partner and head of industry Pontus Pettersson. |  |
Bayer announced plans to sell the pest control unit in 2021. By March 2022, the company operates in more than 100 countries, and its annual turnover is about €600 million. This division of Bayer sells pesticides for rodent and insect control at facilities such as lawns, golf courses and parks. Brands include Maxforce and K-Othrine. In February 2022, Bloomberg reported that Cinven was close to concluding a deal after other applicants, including Brookfield Asset Management and CVC Capital, refused to participate.[1]
Notes
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