Merger Between DSM and Firmenich Completed
- Chaileedo Press
- May 9, 2023
- 2 min read
DSM-Firmenich AG announced the completion of this merger between DSM and Firmenich. As a result of the transaction, Firmenich is now a wholly owned subsidiary of DSM-Firmenich.
DSM-Firmenich AG announced the completion of this merger between the Heerlen-based health, nutrition company DSM and the Geneva-based fragrance and flavor Firmenich. As a result of the transaction, Firmenich is now a wholly owned subsidiary of DSM-Firmenich.
Firmenich is headquartered in Geneva, Switzerland. It is the world's largest privately-owned company in the fragrance and flavor industry, mainly focusing on perfumes, flavors, and ingredients.
DSM is headquartered in the Netherlands and has a history of over 150 years. It has now become a global leader in health, nutrition, and biotechnology.
The newly founded DSM-Firmenich is structured into four separate high-performing businesses, including Perfumery & Beauty, Taste, Texture & Health, Health, Nutrition & Care and Animal Nutrition & Health, all of which are founded on complementary world-class scientific research and excellent manufacturing capabilities.
In the fiscal year of 2022, DSM recorded sales revenue of 8.39 billion euros ($9.22 billion), while Firmenich generated revenue of CHF 4.723 billion ($5.31 billion). The combined annual sales of these two companies amount to $14.53 billion, making the new company poised to become the world's leading enterprise in the fragrance and flavor industry, and also the largest merger in the cosmetic ingredients sector this year.
Geraldine Matchett and Dimitri de Vreeze, Co-CEOs of dsm-firmenich, commented: “Today marks a new beginning for us all that is the culmination of more than a century of ground-breaking science from two great companies. dsm-firmenich now stands out as a category of one, uniquely working at the intersection between what people individually want and what we collectively need, without costing the Earth.”
“After all, what is essential has limited impact if it is not desirable, and that impact is not positive if it is not sustainable. And sustainable things that people don’t want or need don’t help much! We are truly global, built on an incredible foundation of proven world-class science with the broadest portfolio of nutrients, flavors, and fragrances. We are delighted to embark on this journey together as a single force for good as innovators in nutrition, health, and beauty.” Geraldine Matchett and Dimitri de Vreeze added.
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