Netherlands-based DSM is set to merge with Firmenich, the world’s largest privately-owned taste and perfumery company, to form DSM-Firmenich. The move is set to boost annual sales by EUR 500 m, particularly by combining DSM’s Food & Beverage and Firmenich’s Taste & Beyond businesses. At inception, DSM shareholders will own in aggregate 65.5 % of DSM-Firmenich and Firmenich shareholders will own in aggregate 34.5 % of DSM-Firmenich, receiving EUR 3.5 bn in cash.
The merger is expected to be completed in the first half of 2023, and the new Swiss-Dutch global company will be domiciled in Switzerland and listed on Euronext Amsterdam. DSM-Firmenich will benefit from complementary capabilities across fragrance, taste, texture and nutrition, fueled by world-class science. The merger will bring 28,000 people together. DSM-Firmenich will have dual headquarters in Kaiseraugst/Switzerland and Maastricht/Netherlands.