GREENFIELD—In a deal valued at over $7 billion, Greenfield-based Elanco Animal Health has announced plans to acquire one of its chief rivals, Bayer AG's animal health business.
What this could mean to Hancock County and Greenfield was not immediately clear. Elanco's global headquarters has about 800 employees and is located off I 70 near the State Road 9 interchange, about 25-miles from Indianapolis. The company has two other Indiana facilities, in Clinton and Terre Haute, with total statewide employment of 1,265.
"We don’t expect immediate impact from this transaction given closing isn’t anticipated until mid-2020," said Elanco spokesperson Colleen Parr Decker. "Elanco has been growing in central Indiana over the past number of years. We anticipate this move will best position the company for long-term success. "
In a press release Tuesday from Elanco, the company said the deal "strengthens and accelerates Elanco's innovation, portfolio and productivity strategy, creating the second largest animal health leader by global revenue. The transaction will double Elanco's Companion Animal business, advancing the company's international portfolio mix transformation and creating a balance between its Food Animal and Companion Animal segments."
"Joining Elanco and Bayer Animal Health strengthens and accelerates our IPP strategy, transforms our portfolio with the addition of well-known pet brands, brings an increased presence in key emerging markets, expands innovation, and accelerates our margin expansion journey," said Jeffrey Simmons, president and chief executive officer of Elanco. "The move combines our long-standing focus on the veterinarian while meeting pet owners' changing expectation of pet care and access to products."
The deal is subject to government approval.