Firmenich to acquire flavour ingredients and sweeteners developer Senomyx

 

Under the agreement, Firmenich will acquire all of Senomyx’s outstanding common stock for $1.50 per share in cash.

 

The companies’ boards of directors have approved the proposed transaction, which is expected to close in Q4 2018.

 

Senomyx’s president and CEO John Poyhonen said: “Firmenich’s commitment to innovation and the delivery of world-class commercialisation capabilities combined with our long-standing relationship makes this deal the ideal fit for our companies.

 

“We believe this merger will allow the Senomyx discoveries to reach their full potential.”

Upon completion, Senomyx will be integrated into Firmenich’s North America research and development (R&D) organisation, and its products will be commercialised through its Taste Platform.

The company’s R&D operations will remain in San Diego and continue to focus on discovering and developing flavours and sweetener solutions.

Firmenich intends to advance Senomyx’s innovative pipeline of products and discovery capabilities to offer new natural taste solutions for its customers.

Firmenich CEO Gilbert Ghostine said: “Building on our world-class science and pioneering taste platform, this strategic acquisition confirms our commitment to being the partner of choice in taste and nutrition.

“Adding Senomyx’s leading taste technologies and strong natural ingredients pipeline to our taste platform uniquely positions us to create healthy and great tasting food, drink and oral care experiences for our customers.”