Firmenich and DSM confirm merger to form fragrance and nutrition giant
Geraldine Matchett (left) and Dimitri de Vreeze will co-lead the new company dsm-firmenich.
DSM-Firmenich
The merger of Swiss flavour maker Firmenich and Dutch specialty chemicals firm DSM was confirmed on Tuesday. The new company, known as dsm-firmenich, will focus on nutrition, health and beauty products, and have a combined staff of 30,000.
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“dsm-firmenich will be a trailblazer in the reinvention, manufacturing, and combination of vital nutrients, flavours, and fragrances,” the new firm said in a statement on Tuesday.
Geraldine Matchett and Dimitri de Vreeze will co-lead the new company. The merger is due to be officially completed on September 1. Matchett will then leave the company, leaving Vreeze at the helm.
In early April the two companies announced that they had obtained the necessary approvals for the merger.
The new multinational hopes to generate annual revenue of over €11.5 billion (CHF11.9 billion), with dual headquarters in Switzerland and the Netherlands and will be listed on the Euronext in Amsterdam.
Experts say the merger will try to challenge competitors including Swiss multinational Givaudan, which serves food giant Nestlé and luxury goods maker Richemont.
Firmenich is a privately owned company in the fragrance and flavour business and ranks second worldwide in terms of market share. It has created perfumes for more than 125 years, according to the companyExternal link website.
DSM is a Dutch multinational that has been active in the fields of health, nutrition and materials.
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