dsm-firmenich has agreed to divest its Animal Nutrition & Health business to CVC Capital Partners for an enterprise value of €2.2 billion. This move aligns with the company’s strategy to focus on nutrition, health, and beauty. The divestment includes all ANH activities, with ANH generating annualized net sales of approximately €3.5 billion in 2025. dsm-firmenich plans to launch a new share repurchase program and aims to deliver consistent dividends to shareholders. The transaction is expected to be completed by the end of 2026, pending regulatory approvals and other conditions.

ANH is a global provider of animal nutrition and health solutions, with products that improve animal health, performance, and sustainability. The divestment of ANH values the business at €2.2 billion and includes an earnout of up to €0.5 billion. dsm-firmenich will retain a 20% equity stake in the new standalone ANH companies. The company expects to receive approximately €1.2 billion after closing, with plans to repurchase shares and maintain a stable dividend. The divestment will result in a non-cash impairment of around €1.9 billion in 2025.

CEO Dimitri de Vreeze stated that this divestment marks the final step in dsm-firmenich’s strategic roadmap, focusing on accelerating growth and creating long-term value. CVC Capital Partners, delighted to partner with dsm-firmenich, sees significant value creation opportunities in creating two new leading companies in the animal nutrition & health space. This transaction represents the second partnership between dsm-firmenich and CVC, following the successful joint venture ChemicaInvest in 2015.

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