Germany's Bayer AG has acquired New Zealand's largest privately owned animal health company Bomac Group.
Due to confidentiality obligations, no financial information regarding the transaction is available.
Auckland-based Bomac, which was establ
Germany's Bayer AG has acquired New Zealand’s largest privately owned animal health company Bomac Group.
Due to confidentiality obligations, no financial information regarding the transaction is available.
Auckland-based Bomac, which was established in 1958, manufactures more than 290 products and exports to more than 60 countries worldwide.
Bayer, a global enterprise with operations in healthcare, nutrition and high-tech materials, plans to strengthen its worldwide animal health business with the acquisition.
The company, which employs more than 100,000 people worldwide, will concentrate on expanding further into emerging markets in the southern hemisphere.
The deal is dependent on regulatory approval and is completion is planned for 2011.
Head of region international within Bayer Animal Health Dr Alexander Jahn said the acquisition is a “win-win situation” for both companies.
“With Bomac we found a company, where we can capture local innovation and lever it across the fastest growing markets in the world,” said Mr Jahn.
Managing director of Bomac Connel McLaren said the company chose Bayer as it is the partner to take its innovation beyond Australasia.
“They share our belief that New Zealand is an ideal place to undertake new product development and we also share the same values and commitments towards our customers and employees.”
Bomac, which employs more than 200 staff across New Zealand ands Australia, has been introducing on average more than 20 new product per year since 2007. These include innovative mastitis and reproduction products, injectable solutions and suspensions, intra-ruminal devices, and sheep, cattle and equine parasiticides.
