CVC acquires Animal Nutrition & Health (ANH) from dsm-firmenich

Niederer Kraft Frey advised CVC as Swiss law advisor on its acquisition of Animal Nutrition & Health (ANH) from dsm-firmenich via a carve-out transaction for an enterprise value of EUR 2.2 billion. The transaction includes an earn-out of up to EUR 0.5 billion, with dsm-firmenich retaining a 20 percent equity stake in the divested ANH business alongside CVC.

CVC is a leading global private markets manager focused on private equity, secondaries, credit and infrastructure with a global network of 30 local offices and EUR 205 billion of assets under management.

ANH is a global provider of science-based animal nutrition and health solutions. The business offers products ranging from vitamins and premixes, to feed additives that improve animal health, performance, feed efficiency and sustainability across livestock production. ANH helps producers deliver high-quality animal protein while reducing environmental impact.

The NKF team was led by Corporate/ M&A partners Patrik Peyer and Moritz Maurer and senior associate Alexander Göbel, working with associates Alexandra Neuenschwander and Nadine Wanner (both Corporate/ M&A), partner Andreas F. Vögeli, associates Yannik Bleiker and Jessica Messerli (Real Estate), partner Janine Reudt-Demont and associate Luisa Egli (both Regulatory), partner Philip Spoerlé (Finance), partner Andreas Casutt and associate Sabrina Gysi (Employment), partner Simon Bühler and associate Antonio Gramunt (both Pensions), partner Roman Sturzenegger and associate Anastasia Herger (Restructuring) as well as counsel Marc Vogelsang (Tax).

White & Case acted as lead counsel. The White & Case team was led by Stefan Koch, Ben von Maur, Carlo Meert, Carola Glasauer and Joshua Crawley.