Nutrition, health, and beauty company dsm-firmenich has agreed to the sale of its animal nutrition and health (ANH) business unit to CVC Capital Partners, a private markets manager, for €2.2billion, which includes an earnout of up to €0.5 billion. dsm-firmenich will retain a 20% equity stake in the divested companies, in partnership with CVC.

Last year, the company also sold its feed enzymes activities to Novonesis for €1.5 billion last year.

Together, these sales mark the final step in dsm-firmenich becoming fully focused on consumer products in the nutrition, health, and beauty categories.

The company intends to launch a new share repurchase program to buy back ordinary shares with an aggregate market value of €0.5 billion and reduce its issued capital.

ANH is a global provider of science-based animal nutrition and health solutions, with products including vitamins, premixes, and feed additives that improve animal health, performance, feed efficiency, and sustainability across livestock production, helping deliver high-quality animal protein with reduced environmental impact, the company reported. With around 8,000 employees, it generated net sales of €3.5 billion in 2025.

ANH will be split into two Swiss-based companies: the “Solutions Company,” including the performance solutions, premix, and precision services; and the “Essential Products Company,” which includes vitamins, carotenoids, and aroma ingredients. The companies will work together, especially on ensuring vitamin supply in the animal nutrition and health value chain. dsm-firmenich will maintain a 20% equity stake in both companies, and will enter a long-term vitamins supply agreement with the latter company to ensure continuity and supply security.

“Since the creation of dsm-firmenich, we have consistently delivered on every milestone in our strategic roadmap,” said Dimitri de Vreeze, CEO of dsm-firmenich. “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.”

“We are delighted to partner with dsm-firmenich and the ANH team,” said Steven Buyse, managing partner at CVC. “This transaction represents a unique opportunity to create two new leading companies in the animal nutrition and 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 a 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.”