The company dsm-firmenich has entered into an agreement to divest its Animal Nutrition & Health (ANH) division to CVC Capital Partners for an enterprise value of €2.2 billion, including an earnout of up to €0.5 billion. The company will retain a 20% equity stake in the newly created entities, marking its final step towards becoming a fully consumer‑focused business in nutrition, health, and beauty.
The transaction follows the 2025 sale of the Feed Enzymes activities, bringing the total value of the ANH divestment to €3.7 billion. ANH, which generated €3.5 billion in annualised sales and employs around 8,000 people, will be split into two independent companies based in Kaiseraugst, Switzerland: Solutions Company and Essential Products Company.
For the pet food sector, the most significant development is the long‑term supply agreement between dsm‑firmenich and Essential Products Company. This new entity will take over the production of vitamins, carotenoids and other essential ingredients, ensuring continuity and security of supply for pet food manufacturers. In a market where micronutrient availability is critical and raw material volatility remains high, this agreement provides stability for brands relying on consistent vitamin inputs.
The deal is expected to close at the end of 2026, subject to regulatory approvals and the completion of the organisational separation.
