Maastricht-based DSM-Firmenich has sold its animal feed division to private equity firm CVC, valuing the unit at €2.2 billion.

The negotiations took several months and involved moving the deadline several times, the Financieele Dagblad reported. DSM-Firmenich will retain a 20% stake in the company.

The business, which will have 8,000 workers, will be divided into two units, both based in Switzerland: Solutions Company and Essential Products Company, which will focus on vitamins.

The two companies will continue to work closely together, especially with regard to vitamin supply in the animal nutrition and health value chain, DSM-Firmenich said.

The Dutch-Swiss combine said in 2024 that it wanted to sell the animal feed arm, which generated sales of €3.5 billion last year.

The transaction follows the sale of the company’s feed enzymes activities to Novonesis for €1.5 billion in 2025 and “marks the final strategic step for DSM-Firmenich to become a fully focused consumer company active in nutrition, health and beauty,” the company said in a statement.

DSM-Firmenich has also announced a new share buyback programme totalling €500 million. The company’s shares fell some 4% on the Amsterdam stock exchange in the wake of the sale announcement.