The German pharmaceutical giant Bayer has sold its professional business in the field of environmental science, which employs about 200 people in Kari, a private investment company. said the company Thursday.
The sale to Cinven is valued by the Environmental Sciences Division at $ 2.6 billion.
Bayer first announced its intention to sell its business in the field of environmental science last year to focus on its core agricultural activities. This was reported by News & Observer.
The Department of Environmental Sciences, headquartered in Kerry and with 800 employees worldwide, manufactures products for pest control and golf course management. In 2019, sales totaled more than $ 719 million.
Bayer’s decision to sell the business was made after in 2018 the company bought rival Monsanto for $ 63 billion. Bayer substantiated several lawsuits associated with the weed killer Roundup, which the plaintiffs claimed caused the cancer.
“This sale represents a very attractive purchase price and allows us to focus on our core agricultural activities and the successful implementation of our Crop Growth Strategy,” said Rodrigo Santos, President of Bayer Crop.
The deal is expected to be concluded in the second half of 2022, Bayer said.
About 50% of environmental science sales come from the U.S., making Cary’s office well-located for business, said last year CEO Gilles Galliou.
It was not immediately clear what the sale would mean for the employees of the unit in Kerry. Bayer and Cinven have not yet responded to a request for comment.
However, in his statement, Cinven said he hopes to accelerate the growth of the unit.
“As a global investment firm that has long established itself, Cinven is well positioned to continue to drive innovation and accelerate growth in Environmental Science Professional, including delivering digital and data-driven solutions, and making businesses more agile in responding to unique needs. its markets and customers, ”said Pontus Peterson, head of Cinven’s industrial division.
Selling the green business is another example of how Bayer is slowly reducing its presence in the triangle. At its peak the company had 1,000 employees in a triangle.
After in 2018 he bought Monsanto, Bayer moved 500 crop vacancies to St. Louispreviously reported by The News & Observer.
Before moving to Kerry, the Department of Environmental Sciences was based at the Research Triangle Park.
He moved to Cary after Bayer sold most of its stake in RTP to BASF, which bought Bayer’s seed and herbicide company. BASF eventually took on 300 Bayer employees as part of the deal.
This story was created with the financial support of a coalition of partners led by Innovate Raleigh as part of the Independent Journalism Scholarship Program. N&O retains full editorial control over the work. Learn more; go to bit.ly/newsinnovate
Bayer sells its pest control business in North Carolina
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