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Bayer AG announced the acquisition of Auckland based Bomac Group; the parties signed a purchase agreement. With this acquisition Bayer will strengthen its worldwide Animal Health business with a special emphasis on emerging markets in the southern hemisphere. Bomac has a broad range of 290 products, especially in the area of food animals. The main focus is on the treatment of mastitis with dairy cattle and parasiticides in sheep. Bayer aims to benefit also from Bomac’s Research&Development expertise, especially with respect to mastitis management and parasite control. Due to confidentiality obligations, no financial information is disclosed at this point in time.Both companies regard the acquisition as a promising new phase in their business development. The transaction represents a fit in all important aspects of the businesses including product portfolio and innovation pipeline.
It is planned to close the transaction upon receipt of the necessary regulatory approvals, and begin combining the two businesses thereafter. Due to the complementary nature of both businesses, no major synergies are expected.
The transaction is seen as a win-win situation for both companies. “The acquisition of Bomac gives us the opportunity to capture local innovation and lever it across the fastest growing markets in the world”, says Dr. Alexander Jahn, Head of Region International within Bayer Animal Health.
Connel McLaren, Managing Director of Bomac, also remarks on the positive aspects of the acquisition: “We chose Bayer as the perfect partner to help us take our innovation beyond Asia/Pacific. Bayer shares our belief that New Zealand is an ideal place to undertake new product development. Bayer’s commitment to expanding our research and development activity is a great outcome for New Zealand.”
Both companies also have successful businesses in Australia and plan to further expand their combined product offering across the Tasman.
http://www.bayer.com/en/news-detail.aspx?newsid=14134
