In the business world, big news was announced in May of 2022 as DSM and Firmenich, both major players in the ingredients industry, revealed their plans to merge and create an “industry leader”. The goal was to combine their strengths in flavors, fragrances, and nutritional ingredients segments. Today, on May 9th, 2023, the merger is complete and dsm-firmenich has officially launched. A workforce of almost 30,000 people and a combined revenue of over €12bn gives the newly enlarged entity unparalleled capabilities in the industry.
The new Dutch-Swiss company is organized into four businesses: Perfumery & Beauty, Animal Nutrition & Health, Health Nutrition & Care, and Taste, Texture & Health. The Taste, Texture & Health segment aims to help customers create food and beverage products that are not only delicious and nutritious but are also affordable and sustainable. This business is expected to account for a quarter of group sales.
The two co-CEOs of dsm-firmenich, former DSM co-CEO Dimitri de Vreeze and Geraldine Matchett, are thrilled with the new business, which combines more than a century of ground-breaking science from two great companies. They said, “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…”
Significant changes are happening as a result of the merger. While the co-CEOs will remain in their roles, some changes are afoot. Now that the merger is complete, Firmenich CEO Gilbert Ghostine’s tenure at the company has come to an end. Geraldine Matchett will also leave the company as of September 1, 2023, to pursue other career opportunities. At that point, Dimitri de Vreeze will become the sole CEO of dsm-firmenich.
The company’s new branding has been designed to reflect its purpose and values, and is an expression of a “shared identity”. The new brand “is lively, vibrant, and led by our purpose”, said the co-CEOs. They added, “This is the beginning of an exciting new time for our employees, our customers, and our partners as we go above and beyond in shaping a positive future for all as we bring progress to life.”
dsm-firmenich is now operating in close to 60 countries, with around 340 sites, and is listed on the Euronext. With this merger now complete, the world is eagerly watching to see what new and innovative products dsm-firmenich will bring to the market.
