DSM-Firmenich Forms an Agreement to Divest Animal Nutrition & Health

dsm-firmenich, innovators in nutrition, health, and beauty, announced that it has entered into an agreement with CVC, a leading global private markets manager, to divest its Animal Nutrition & Health business for an enterprise value of about €2.2 billion, which includes an earnout of up to €0.5 billion. dsm-firmenich will retain a 20% equity stake in the divested ANH Companies, in partnership with CVC.

This transaction follows the sale of the Feed Enzymes activities to Novonesis for €1.5 billion in 2025 and marks the final strategic step for dsm-firmenich to become a fully focused consumer company active in nutrition, health, and beauty.

Dimitri de Vreeze, CEO of dsm-firmenich, commented: “Since the creation of dsm-firmenich, we have consistently delivered on every milestone in our strategic roadmap. From building a unique, integrated company to shaping a finely tuned portfolio with distinctive capabilities, we have now evolved into a leading consumer business focused on nutrition, health, and beauty. Today marks the final step in that journey, and this transaction reflects our commitment to accelerating our growth and creating long-term value for all stakeholders. At the same time, this agreement opens an exciting new chapter for ANH, enabling it to thrive and realize its full potential.”

Steven Buyse, Managing Partner at CVC: “We are delighted to partner with dsm-firmenich and the ANH team. This transaction represents a unique opportunity to create two new leading companies in the animal nutrition & health space. Both businesses offer significant potential for value creation. The Solutions Company will continue to drive innovation and efficiency in animal farming, delivering tailored solutions with high proximity to its global customer base. The Essential Products Company will be built as a resilient global leader in essential feed, food and fragrance ingredients, providing customers with reliable, high-quality supply based on an independent and highly integrated value chain. Both companies will work closely together to create maximum value for the customer.”

The transaction represents the second partnership between dsm-firmenich and CVC. In 2015, DSM created the successful joint venture ChemicaInvest, in which CVC also held a majority.

Source: DSM Firmenich