Bayer AG has acquired the Auckland-based Bomac Group in a bid to expand its animal health business in the Asia Pacific and Latin America.

Both companies are pleased with the acquisition, according to reports. Bayer plans to make use of Bomac's research and development expertise while Bomac looks forward to new opportunities for innovation. "The acquisition of Bomac gives us the opportunity to capture local innovation and lever it across the fastest growing markets in the world," said Dr. Alexander Jahn, head of region international in Bayer Animal Health.

Advertisement

The transaction will be finalized as soon as the necessary regulatory approvals are obtained.