FIRMENICH INVESTS IN ARTSCI AS STRATEGIC GROWTH PARTNER FOR FLAVORS IN CHINA
Geneva, Switzerland, June 19th 2019 - Firmenich is pleased to announce its strategic partnership with ArtSci Biology Technologies (Hangzhou) Co., Ltd (“ArtSci”), taking a minority equity stake in this leading local flavor company in China. Building on Firmenich’s distributor agreement with ArtSci, this investment will further expand the Group’s reach across Central and Western China’s middle-market where ArtSci is strongly established. Headquartered in Hangzhou, in the Zhejiang province, ArtSci specializes in Dairy and Beverages and is known for its agility and speed in servicing mid-sized customers.
“For more than three decades, Firmenich has been deeply committed to investing and growing in China,” said Patrick Firmenich, Chairman Firmenich. “This strategic partnership with ArtSci reinforces our long-term commitment by expanding our reach across China’s middle-market.”
“We are delighted to be partnering with Firmenich, a world leader in taste with world-class technologies and innovation,” said Wang Ying, Chairman ArtSci. “With our strategic partnership, we can offer a broader portfolio of solutions and strengthened capabilities to our customers across China to best meet their needs today and in the future.”
“Firmenich has great ambitions in China, as evidenced by our recent strategic investments,” says Gilbert Ghostine, Firmenich CEO. “I am delighted about our reinforced partnership with ArtSci, building on our successful distributor agreement, as it opens new avenues of growth across Central and Western China for both of us.”
ArtSci is a leading Chinese flavor house specializing in Dairy and Beverages with a strong presence across China’s middle market, as well as a large distributor network across the fastest growing regions of Central and Western China. It is recognized in China for its best-in-class service levels, as well as agile and fast speed business model.
A firm believer in the great potential of China, Firmenich has been investing consistently over the last 30 years to expand its footprint and capabilities in this strategic market. Most recently Firmenich launched its largest flavor manufacturing plant in the world in Zhangjiagang, adding to its facilities in Shanghai and Kunming serving its Perfumery and Ingredients Businesses. Last year, it also entered a strategic partnership with Layn Natural Ingredients based in Guangxi, for exclusive access to the industry’s widest range of natural sweeteners, such as monk fruit and stevia. In 2012, Firmenich opened a major Research Center in Shanghai, dedicated to driving cutting edge technologies to best serve its customers in China. Firmenich has a nationwide presence of commercial facilities with application laboratories in Shanghai, Beijing and Guangzhou.
Firmenich is the world’s largest privately-owned perfume and taste company, founded in Geneva, Switzerland, in 1895. Driven by its purpose to create positive emotions to enhance wellbeing, naturally, Firmenich has designed many of the world’s best-known perfumes and tastes, bringing delight to over four billion consumers every day. Renowned for its world-class research and creativity, as well as its leadership in sustainability, each year, Firmenich invests 10% of its turnover in R&D to understand and share the best that nature has to offer responsibly. Firmenich had an annual turnover of 3.7 billion Swiss Francs at end June 2018.
Founded in 2005 and headquartered in Hangzhou, Zhejiang Province, ArtSci is a Chinese flavor company specialized in dairy and beverages, as well as bakery and confectionary. With more than 130 employees, it serves China’s middle market with a broad distribution network across Central and Western China.