DSM-Firmenich to Sell Animal Health Business to CVC Capital

DSM-Firmenich AG agreed to sell its animal nutrition and health business to CVC Capital Partners for an enterprise value of about €2.2 billion ($2.6 billion), as the Dutch-Swiss firm sharpens its focus on consumer goods.

The chemical and ingredient company will retain a 20% stake after the transaction, DSM-Firmenich said in a statement Monday. Bloomberg first reported last month the two parties were nearing a deal, which follows the sale of its feed-enzymes business to Novonesis for €1.5 billion last year.