International private equity firm Cinven has signed an agreement with Bayer AG (ETR: BAYN) to acquire its Environmental Science Professional business for a total enterprise value of USD2.6 billion (~EUR2.4 billion).
Bayer Environmental Science Professional (BESP) is a leading global provider of products and services to create healthier environments, to manage pests, and to eliminate vector-borne diseases, across a range of end-markets. BESP has an extensive product portfolio to manage pests (such as rodents, pest insects and invasive weeds) in a sustainable and responsible manner, including for the vegetation management, range and pasture, forestry and turf and ornamentals markets. In addition, BESP markets products to protect against vector-borne diseases such as malaria, and to promote public health objectives in the developing world.
Headquartered in Cary, North Carolina, USA, BESP has global operations with c. 800 employees and c2,000 product registrations, sold in more than 100 countries. BESP also has market-leading R&D capabilities, with four international R&D centres and more than 200 employees working in product innovation.
