One of Europe’s leading companies in the animal feed ingredients sector, dsm-firmenich, has announced it will sell its Animal Nutrition & Health (ANH) unit to CVC Capital Partners in a €2.2 billion enterprise value deal.
ANH is a global provider of science-based animal nutrition and health solutions. The business offers products ranging from vitamins over premixes, to feed additives that improve animal health, performance, feed efficiency, and sustainability across livestock production. Its solutions help producers deliver high-quality animal protein while reducing environmental impact.
dsm-firmenich has now raised circa €3.7 billion following the sale last year of its Feed Enzymes activities to Novonesis for €1.5 billion. It said it would retain a 20% equity stake in the divested ANH companies, in partnership with CVC.The global leader in animal nutrition said the divestment marked the final strategic step for it to become a fully focused consumer company active in human nutrition, health, and beauty.
It said it planned to launch a share repurchase program this quarter with an aggregate market value of €0.5 billion and reduce its issued capital.
In addition, dsm-firmenich aims to deliver consistent and sustainable dividends to its shareholders. To achieve this, the company has adopted a ‘stable to preferably rising’ dividend policy, reflecting the company’s commitment to long-term value creation. Under this policy, dsm-firmenich aims to maintain a stable dividend of €2.50 per ordinary share and progressively increase dividends over time.
ANH generated annualized net sales of approximately €3.5 billion in 2025, with around 8,000 employees. The divestment includes all ANH activities: Performance Solutions, Premix, Precision Services, as well as Vitamins, Carotenoids and Aroma Ingredients. As previously communicated, Bovaer® and VeramarisTM remain part of dsm-firmenich.
ANH will now be split into two new standalone companies, both based in Kaiseraugst, Switzerland: the “Solutions Company”, including Performance Solutions, Premix, and Precision Services, and the “Essential Products Company”, including Vitamins, Carotenoids and Aroma Ingredients (jointly referred to as the “ANH Companies”). These companies will continue to work closely together, especially with regards to the vitamin supply in the animal nutrition and health value chain.
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.”
