dsm-firmenich has agreed to divest its Animal Nutrition & Health business to CVC Capital Partners in a deal valued at about EUR 2.2 billion, including an earnout of up to EUR 0.5 billion. The company will keep a 20% equity stake in the divested business, signaling that it still wants exposure to the sector even as it steps back from direct ownership. 

The move marks a major portfolio shift for dsm-firmenich, which has been sharpening its focus around nutrition, health and beauty since the merger. By separating Animal Nutrition & Health, the group is repositioning itself more clearly as a consumer-focused company, while giving the ANH business a new ownership structure for its next phase. 

The transaction is expected to close by the end of 2026, subject to regulatory approvals, employee consultation requirements and other customary conditions. dsm-firmenich later said the announced divestment led to the ANH business being classified as held for sale, and to a non-cash impairment of around EUR 1.9 billion before taxes in its 2025 figures. 

For the animal nutrition and health market, the deal is significant simply because of the scale involved. dsm-firmenich Animal Nutrition & Health has been one of the sector’s larger global players, and the sale suggests private capital still sees room to build value in feed additives, performance solutions and animal health-related nutrition platforms. The original announcement appears in the company’s Animal Nutrition & Health press release section.