Cinven in talks to acquire Bayer’s pest control unit

Cinven is nearing a deal to acquire Bayer AG’s pest control business, according to people with knowledge of the matter. 

The private equity group beat out other investment firms for the Environmental Science Professional unit, the people said, asking not to be identified discussing confidential information. A deal could be announced as soon as the coming week.

Bayer has been seeking a value of about $2.3 billion for the business, Bloomberg News reported last year. As with all deals, talks could still be delayed or fall apart, the people said.

German-listed Bayer announced almost a year ago plans to sell ESP, which provides pesticides that can be used to combat rodent and insect infestations in order to focus on its core agricultural operations. ESP also offers a digital pest management system.

The environmental science unit is a small part of Bayer’s crop science division and also sells products for lawns and gardens, golf courses, forestry and parks and railway tracks. Brand names include Ficam, Maxforce, Esplanade and K-Othrine.

This story first appeared on Bloomberg News. Click here to read it in full.