Bayer sells certain parts environmental science unit SBM

Bayer sells certain parts of environmental science unit to SBM

10:18 AM, 20th May 2016
Bayer sells certain parts of environmental science unit to SBM

MONHEIM, GERMANY/LYON, FRANCE: Bayer AG has signed an agreement to sell its consumer business of the environmental science unit to SBM Developpement (SBM). The consumer business encompasses the Bayer Garden and Bayer Advanced businesses in Europe and North America.

The transaction is expected to close in October, at which time all employees holding one of the almost 250 positions dedicated to the Bayer Garden and Bayer Advanced businesses in Europe and North America will transfer to SBM.

Bayer Garden and Bayer Advanced provide innovative home and garden solutions for hobby gardeners and homeowners. SBM is a leader in the home and garden market in France and develops, formulates and produces crop and non-crop solutions for professionals and consumers.

With strong experience in developing biological plant protection solutions, soils and fertilizers, SBM has a highly complementary product portfolio to Bayer’s businesses. Through the acquisition of the Bayer Garden and Bayer Advanced businesses, SBM will significantly expand its footprint in Europe and enter the strategic North American market.

“For SBM, the acquisition of the Bayer Garden and Bayer Advanced businesses represents a major milestone in our journey toward global leadership in the consumer home and garden industry,” said Jean-Paul Simmler, chairman of SBM. “We are committed to growing these businesses over the long-term by providing customers in Europe and the US with an innovative range of solutions that leverages the strengths of both SBM and Bayer.”

“In SBM, we’ve found a strategic acquirer that can provide the Bayer Garden and Bayer Advanced businesses and people with a long-term vision and perspective to reach their full potential. At the same time, divesting the consumer business will enable environmental science to become even more growth-oriented and strengthen our market leadership position with a single-minded focus on the unique needs of our professional customers,” said Dr Jacqueline Applegate, head of environmental science and member of the crop science executive committee.

© Worldofchemicals News


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