The new company is expected to be a leader in nutrition, beauty and wellness products, according to a joint statement published on Tuesday.
Under the deal, which is conditional on approval from DSM investors, the Firmenich family will own about 34.5% of the new company, which will have a combined staff of about 28,000.
It is aiming for annual revenue of more than €11.5 billion (CHF11.9 billion) with dual headquarters in Switzerland and the Netherlands and be listed on the Euronext in Amsterdam.
The merger is due to be completed in the first half of next year.
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 number two worldwide in terms of market share. It has created perfumes for more than 125 years, according to the companyExternal link website.
Swiss justice minister hopes EU reform will reduce irregular migration
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The European Union’s (EU) New Pact on Migration and Asylum aims to curb irregular migration within Schengen, Justice Minister Beat Jans said on Tuesday.
Swiss electricity supply outlook positive despite uncertainties
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Thanks to well-filled gas stores in Europe and increased availability of French nuclear power, the Swiss Federal Electricity Commission is optimistic.
Finance minister wants Swiss banks to hold more equity
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Telecoms sector kept Swiss competitions regulator busy in 2023
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Although Swiss International Air Lines (SWISS) achieved higher revenue at the start of the year, it suffered a dip in profits.
40,000 signatures against animal testing in Switzerland
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Switzerland should do away with “restrictive” animal testing and should become a model for innovative, effective, and pain-free scientific research.
More than 45,000 signatures in favour of federal funding for UNRWA
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At the end of January 2024, 6,881 men and women were behind bars in Switzerland. Almost 95% of all places were occupied, the highest number since 2014.
Swiss set sights on becoming hub for food and nutrition innovation
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Big players across industry and academia have come together to boost Switzerland’s reputation as a powerhouse for food and nutrition innovation.
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