In Switzerland, Firmenich has agreed to buy fermentation-based sweetener Senomyx for $73 million, or $1.50/share in cash—a 43% premium of the company’s closing price on September 14. The boards of both companies have unanimously approved the deal, which is expected to close in the fourth quarter.
Senomyx discovers novel flavor ingredients and natural high intensity sweeteners. The company has partnerships with leading global food, beverage, and ingredient supply companies.
“Senomyx has established itself as a leader in taste innovation and a recognized pioneer in sweet, cooling and bitter solutions,” says Patrick Firmenich, Chairman of the Board, Firmenich. “Building on our long-term partnership spanning more than a decade, we look forward to welcoming Senomyx into Firmenich to lead in taste and nutrition.”
Senomyx R&D operations will remain in San Diego. Firmenich is the world’s largest privately-owned company in the fragrance and flavor business.