Tata Chemicals International Pte. Limited (TCIPL), a wholly-owned subsidiary of Tata Chemicals, has executed a Share Purchase Agreement to acquire 100% equity share capital of Novabay Pte. Limited for EUR 25 Million. Novabay, based in Singapore, specializes in premium-grade sodium bicarbonate. The acquisition aims to strengthen Tata Chemicals’ capabilities in the specialty bicarbonate market. Completion is expected by March 2026, contingent on fulfilling precedent conditions.
Acquisition Overview
Tata Chemicals International Pte. Limited (TCIPL), a wholly owned subsidiary of Tata Chemicals, has agreed to acquire 100% of Novabay Pte. Limited, a Singapore-based manufacturer of premium-grade sodium bicarbonate. The acquisition is valued at an enterprise value of EUR 25 Million. This move is intended to strengthen Tata Chemicals’ presence in the high-value, non-cyclical specialty bicarbonate segment. The agreement was formalized on December 19, 2025.
Rationale and Strategic Fit
The acquisition of Novabay aligns with Tata Chemicals’ strategic objectives to expand its footprint in premium-grade sodium bicarbonate. Novabay serves the Pharma, Food, and Personal Care industries across Europe, Americas, Oceania, Asia, Middle East and ASEAN markets. The acquisition will enhance the company’s ability to serve premium customer requirements and strengthen its capabilities in the specialty bicarb market. Novabay has a capacity of approximately 60,000 tons, with the potential to expand to 100,000 tons.
Novabay’s Financial Performance
Novabay’s turnover for Calendar Year 2024 was SGD 29.49 Million. In 2023, the turnover was SGD 25.93 Million, and in 2022, it was SGD 27.68 Million. The company focuses on high-value grades for pharmaceutical, personal care, and food applications.
Terms and Completion
The acquisition is subject to customary closing conditions and is expected to be completed by March 2026. Post-acquisition, Novabay will become a wholly owned subsidiary of TCIPL. The consideration will be paid in cash. This strategic move is expected to accelerate Tata Chemicals’ long-term growth and value creation.
Source: BSE
