Bayer acquires Animal Health Company Bomac in New Zealand
Bayer to strengthen Animal Health business in Asia Pacific and Latin America
Complementary portfolios with strong growth opportunities in combining both businesses / Creation of southern hemisphere hub to drive product innovation
Auckland, New Zealand/Leverkusen, Germany, – Today, 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.
Founded in 1958 Bomac is New Zealand’s largest privately owned dedicated animal health company.
Operating from modern GMP facilities in Auckland the company manufactures over 290 production animal, equine and companion animal products for sale in New Zealand and to over 60 countries worldwide.
A significant commitment to R&D has seen Bomac average over 20 new product approvals per year in NZ since 2007. These include innovative mastitis and reproduction products, injectable solutions and suspensions, intra-ruminal devices, and sheep, cattle and equine parasiticides.
This enviable track record of new products and delivery systems has underpinned the company’s continued growth as Bomac and its 200 staff in New Zealand and Australia strive to be “First for Animal Health”. www.bomac.co.nz.
About Bayer HealthCare
The Bayer Group is a global enterprise with core competencies in the fields of healthcare, nutrition and high-tech materials. Bayer HealthCare, a subsidiary of Bayer AG, is one of the world’s leading, innovative companies in the healthcare and medical products industry and is based in Leverkusen, Germany. The company combines the global activities of the Animal Health, Bayer Schering Pharma, Consumer Care and Medical Care divisions. Bayer HealthCare’s aim is to discover, manufacture and market products that will improve human and animal health worldwide. www.bayerhealthcare.com
With a turnover of EUR 977 million (2009) Bayer HealthCare’s Animal Health Division is one of the world’s leading manufacturers of veterinary drugs. The division manufactures and markets more than 100 different veterinary drugs and care products for livestock and companion animals.
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