SBM Developpment Group purchasing Bayer Advanced, Bayer Garden

Following up on a deal in the works since the beginning of the year, Bayer representatives have announced that the Bayer Advanced and Bayer Garden brands will be sold to French plant protection manufacturer SBM Development group.

The binding offer to sell off the European Bayer Garden and North American Bayer Advanced brands will be processed over the coming months, according to Darren Wallis, Bayer's vice president of communications for North America. 

"This is the first step in a process we expect is going to take about 8 months," Wallis says. "Over the next several months, environmental science, which is the division that this lives within in Bayer, is going to discuss a variety of terms with SBM, begin that work with the Works Council in applicable countries, and then once those steps cross over their mile markers, we’ll be in a position to sign a final agreement. We don’t expect that to occur until sometime in October and that’s of course, pending all necessary regulatory and customary closing conditions."

Wallis says SBM is qualified to take ownerhsip of the Bayer Advanced and Bayer Garden brands thanks to SBM's record of producing a wide variety of plant protection products for end consumers and professionals alike. SBM serves both Europe and North America with is line of products, which includes biologics, fertilizers and specialty soils.

"This is about a long-term commitment to the Bayer Garden and Bayer Advanced businesses and our people," Wallis says. "SBM has a broad, complementary portfolio and this does give them a long-term investment to grow an overall combined home and garden business to become a leader in the market."

More details will become available as the binding offer is finalized.

"I think, thus far, the team’s been really impressed with the terrific cultural fit between SBM and Bayer," Wallis says. "The two companies really have a like-mindedness in terms of innovation, development and production. I think that for those three reasons, we’re feeling really good about the partnership. Now, it’s just a matter of moving through those milestones and working toward October."