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Tata Chemicals Buys Premium Bicarb Maker
19 Dec
Summary
- Tata Chemicals to acquire Singapore-based Novabay Pte Ltd.
- Novabay specializes in premium-grade sodium bicarbonate for key industries.
- The acquisition aims to strengthen Tata Chemicals' specialty product portfolio.
Tata Chemicals International Pte Ltd (TCIPL) has entered into a share purchase agreement to acquire 100% of Novabay Pte Ltd, a Singaporean company known for its premium-grade sodium bicarbonate. This acquisition signifies Tata Chemicals' strategic intent to deepen its engagement in high-value, non-cyclical product segments.
Novabay, established in November 2015, is a significant supplier to the pharmaceutical, food, and personal care industries across Europe, the Americas, Asia, and beyond. The company boasts a current production capacity of approximately 60,000 tonnes, with plans for expansion, and holds crucial certifications including cGMP and API.
The transaction, valued at an enterprise value of €25 million, is anticipated to conclude by March 2026, subject to customary conditions. Post-acquisition, Novabay will operate as a wholly-owned subsidiary of TCIPL, enhancing Tata Chemicals' capabilities in the specialty bicarb market.
