Tata Chemicals has announced that its wholly owned subsidiary, Tata Chemicals International Pte. Limited (TCIPL), has signed a Share Purchase Agreement to acquire 100% equity share capital of Novabay Pte. Limited, a Singapore-based company engaged in the manufacture and sale of premium grade sodium bicarbonate. The completion of the transaction is subject to the fulfilment of customary conditions precedent outlined in the agreement and is expected to be concluded by March 2026.
Novabay operates in the premium sodium bicarbonate segment, catering to a wide range of industries including pharmaceuticals, food, personal care, healthcare, environmental applications, and water treatment. The company serves customers across Europe, the Americas, Oceania, Asia, the Middle East, and ASEAN markets, giving Tata Chemicals access to a well-established international footprint in value-added chemical products.
The acquisition is aligned with Tata Chemicals’ strategic objective of strengthening its portfolio of premium and specialised products. By integrating Novabay’s capabilities, the company aims to enhance its presence in high-margin applications and expand its offerings in segments that require consistent quality and regulatory compliance.
Novabay was incorporated in November 2015 and currently operates as a wholly owned subsidiary of France-based Novacarb. For the calendar year 2024, the company reported a turnover of SGD 29.49 million, compared with SGD 25.93 million in 2023 and SGD 27.68 million in 2022, reflecting steady business performance over the past three years.
The proposed acquisition does not fall under related party transactions, and Tata Chemicals’ promoter or promoter group has no interest in Novabay. No governmental or regulatory approvals are required for the transaction. The deal will be executed through a cash consideration, with the acquisition valued at an enterprise value of EUR 25 million, equivalent to approximately SGD 37.8 million, subject to net debt, net working capital, and other customary adjustments.