Bär & Karrer Advises dsm-firmenich on
Swiss Law Aspects in Connection with the
Divestment of its ANH Business

On 9 February 2026, dsm-firmenich, innovators in nutrition, health and beauty, it has entered into an agreement with CVC, a leading global private markets manager, to divest its Animal Nutrition & Health (“ANH”) business for an enterprise value of about EUR 2.2 billion, which includes an earnout of up to EUR 0.5 billion. dsm-firmenich will retain a 20% equity stake in the divested ANH companies, in partnership with CVC.

Bär & Karrer acts as local counsel on Swiss law aspects to dsm-firmenich in connection with this transaction. The team was led by Urs Kägi and included Matthias Tanner, Shu Zhang, Marie-Cristine Kaptan, Urs Stürmer, Florian Schweighofer, Ann-Kathrin Bühler (all M&A/Corporate & Commercial), Susanne Schreiber, Cyrill Diefenbacher, Donjeta Beka (all Tax), Mani Reinert (Competition) Markus Wang (IP), Markus Schott (Regulatory), Laura Widmer, Nicola Schön, Marc Paronitti, Luljeta Morina (Employment), Corrado Rampini, Rocco Rigozzi, Corina Moschen, Patrick Neher (Real Estate), as well as Thomas Stoltz, Julia Eiholzer (Notarial Services).