‘A merger of equals’: DSM and Firmenich merge to form new fragrance and nutrition giant
The newly-formed company will comprise four businesses – perfumery and beauty; taste, texture and health; health, nutrition and care; and animal nutrition and health. Nearly 30,000 staff will work across the company’s 340 sites in nearly 60 countries. The Swiss-Dutch group has a combined revenue of over €12bn/$13.19bn.
As a result of the amalgamation, DSM-Firmenich co-chief executive officer Geraldine Matchett has agreed ‘to further her career elsewhere’ ‘in full alignment and with the thanks of’ the company’s board of directors as of September 1. Fellow co-CEO Dimitri de Vreeze will become the DSM-Firmenich CEO.
A joint statement by the co-CEOs reads: “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.”