DSM and Firmenich complete the DSM-firmenich merger
Today (May 9, 2023), the expanded entity known as dsm-firmenich is officially launched with a team of nearly 30,000 employees, a combined revenue of more than €12 billion, and what decision-makers describe as “unparalleled” capabilities built on more than a century. From “evolving” science.
“dsm-firmenich will be a leader in the reinvention, manufacture and synthesis of vital nutrients, flavors and fragrances.”
Taste, texture and healthiness account for a quarter of the business
The new Dutch-Swiss company is organized into four businesses: Fragrance and Beauty. animal nutrition and health; nutrition and health care; Taste, texture and health.
This latter business segment aims to help customers create delicious, nutritious, affordable and sustainable food and beverage products, dsm-firmenich explained. It is estimated that this business will account for 24% of the group’s sales.
When first announcing the merger, former DSM co-CEO Dimitri de Vriesi (now co-CEO of DSM-firmenich along with former DSM co-CEO Geraldine Matchet) said he expected the €2.7 billion food and beverage unit to go under. for ‘the largest’. Transformation “when the companies’ capabilities were combined. DSM said it expects an annual sales increase of around 500 million euros from the combination of DSM’s food and beverage with Firmenich’s taste and other businesses.
“Today is a new business for us, it all represents the culmination of more than a century of pioneering science from two great companies,” said the CEOs of DSM-Firmenich.
“dsm-firmenich now stands out as a single category, uniquely functioning at the intersection between what people want individually and what we need collectively, without breaking the ground…
“We are truly global, built on an incredible foundation of proven world-class science with the widest range of nutrients, flavors and fragrances. We are excited to embark on this journey together as one force for good as innovators in nutrition, health and beauty.”
Changes are in full swing
While former DSM CEOs continue to head dsm-firmenich (Matchett also serves as CFO, de Vries as COO), some changes are afoot.
Now that the merger is complete, Firmenich CEO Gilbert Justin’s tenure at the company is ending. Effective September 1, 2023, DSM’s Matchett will leave the company to “further her career elsewhere”. At this point, De Vreeze will become the sole CEO of DSM-firmenich.
Other changes include a new company name and identification. Designed to reflect the company’s purpose and values, the brand is an expression of a “shared identity,” DSM-Ferminich’s co-CEOs noted.
“We honor the legacy of DSM and Firmenich by drawing on the best of both companies in creating a fresh, new identity. It’s vital. It’s lifelike. Driven by our purpose. Just like DSM-firmenich. This is the beginning of an exciting new era for our people, customers and partners as we go to great lengths in shaping a positive future for all as we make progress in life.”
The Dutch-Swiss company now operates in around 340 locations in nearly 60 countries and is listed on Euronext.
