NEW DELHI: Tata Chemicals (TCL) on Saturday announced that Tata Chemicals International Pte. Limited (TCIPL) a 100% subsidiary of TCL, will acquire 100% equity shares of Novabay Pte (Novabay), a Singapore-based manufacturer of premium grade sodium bicarbonate, for Euro 25 million or Rs 260 crore.
Commenting on the acquisition, Managing Director & CEO, TCL, said: “Novabay’s focus on premium-grade sodium bicarbonate aligns seamlessly with TCL’s strategy to expand its presence in high-value, non-cyclical product segments. This acquisition strengthens TCL’s capabilities in the specialty bicarb market and enhances our ability to serve premium customer requirements.”
Novabay is among the largest premium sodium bicarbonate producers in the Asia-Pacific region (excluding China), supplying high-value grades for pharmaceutical, personal care, and food applications. The company holds key cGMP, API, and related certifications, supported by a fully automated facility. With a current capacity of approximately 60,000 tonnes and potential to expand to 100,000 tonnes, Novabay is well-positioned for growth.
The premium-grade sodium bicarbonate market benefits from steady demand in healthcare, personal care, and food sectors. Rising haemodialysis needs, improved access to medical care, and growing consumption in emerging markets drive this demand. We believe this strategic acquisition will accelerate TCL’s long-term growth and value creation.”
Tata Chemicals Limited, a part of over $180 billion Tata Group, is a supplier of choice to Glass, Detergent, Industrial and Chemical sectors. The company also has a presence in the crop protection business through its subsidiary company, Rallis India Limited.