FMC divested GSS non-farm business and acquired environmental science company Envu for $350 million

FMC, a leading global agricultural sciences company, recently announced that it has signed a definitive agreement with Envu, an environmental sciences company, to sell its Global Specialty Solutions (GSS) business for $350 million. The transaction is expected to close by the end of 2024, subject to regulatory approval.

FMC's chairman and CEO said the spin-off will allow the company to focus on its core crop protection market. The GSS business primarily serves off-farm crop markets such as golf courses, professional stadiums and pest control.

Envu's CEO welcomed the acquisition, seeing significant synergies and innovation potential from the combination of the two businesses and seeing GSS as an opportunity to support its growth strategy. Envu was acquired by international private equity firm Cinven in 2022 and focuses on the environmental sciences sector.

Envu was formerly Bayer's Environmental Sciences Specialty business unit. In August 2022, the division changed its name to Envu after being acquired by Cinven and became an independent company. Envu is committed to providing customers with innovative solutions to meet environmental challenges. 

Further terms and conditions of the transaction have not been disclosed.