Bayer sells Consumer business to SBM Développement
The Consumer business encompasses the Bayer Garden and Bayer Advanced businesses in Europe and North America. The financial terms of the transaction were not disclosed.
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.
The transaction is expected to close in October 2016, 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, provided all necessary regulatory approvals and customary closing conditions are fulfilled.
Until the closing, Bayer Garden and Bayer Advanced will continue to operate as part of Bayer, with no impact on their ongoing business operations or product portfolios as a result of the pending sale. ■