Firmenich Acquires Majority Ownership of ArtSci to Expand Position in Chinese Taste Market.
MANews-(C)2009-2022
Switzerland-based fragrance and taste company Firmenich has acquired majority ownership of China-based taste company ArtSci Biology Technologies (Hangzhou) Co., Ltd to capitalise on high-growth Chinese taste market, the company said.
Terms of the transaction were not disclosed.
ArtSci and Firmenich have been strategic partners since 2019, when Firmenich took a minority equity stake.
This move will further strengthen Firmenich's ability to serve the rapidly growing Chinese local market and extend its geographic reach across China.
Firmenich has a nationwide presence of commercial facilities, with application laboratories in Shanghai, Beijing, and...
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