Bayer CropScience purchased certain crop protection and land management assets from DuPont in the United States, Canada, Mexico, Australia and New Zealand. The transaction is expected to close in Q4 2014, subject to customary regulatory approvals. Financial terms of the agreement were not disclosed.
This acquisition allows Bayer’s Environmental Science business unit to expand its product portfolio to include weed control for industrial vegetation management (IVM) and gain access to forestry and range and pasture business segments in North America, according to the company. Under the agreement, DuPont will continue to sell its land management products outside the United States, Canada, Mexico, Australia and New Zealand, and its range and pasture products in Mexico and Latin America.
DuPont’s current land management product portfolio includes approximately 30 herbicides marketed under brand names such as DuPont Perspective, Streamline, Escort and Oust. Bayer’s acquisition of these assets includes rights in intellectual property, including registrations, data, and trademarks related to the land management products.
“The planned acquisition underlines our ambition to further grow this position in the years to come,” said Bayer CropScience CEO Liam Condon. “It allows us to provide our customers with first-choice solutions to protect and care for the environment in which we live, work and play. Keeping our railways, railroads and infrastructure clean and safe and forestry plantations more productive is part of our mission—Bayer: Science for A Better Life.”
Rik Miller, president DuPont Crop Protection, added: “This agreement is another step in the execution of our DuPont Crop Protection business growth strategy. We continue to focus on delivering our science and innovative new offerings to the market, that drive profitable growth both today and over the long term.”