Eternis Fine Chemicals, a leading Indian producer of aroma chemicals, has acquired Tennants Fine Chemicals in the United Kingdom and its wholly owned subsidiaries in Singapore and China from Tennants Consolidated.
Tennants Fine Chemicals is one of the world’s leading producers of triacetin, is a plasticizer used in the manufacture of cigarette filters.
As a result of this transaction, Eternis and Tennants Fine Chemicals will expand and complement the range of aroma chemicals offered to customers, while leveraging the multi-location manufacturing and distribution platforms to better service their customers regionally and de-risk their supply chain.
“As we step into 2021, I speak on behalf of the team at Eternis in expressing my excitement with this significant step of successfully completing our first overseas acquisition in our growth journey,” said Rajen Mariwala, managing director of Eternis, in a statement.
“The addition of this large independent, high-end manufacturer enhances our business and brings with it many strategic advantages. We will now have established operations in Europe and Asia, with the ability to service our customers from stock hubs and partners. The combined product offer will position us well for further growth.”
“I see positive outcomes as we enter into this new partnership,” said Billy Gittins, managing director of Tennants Fine Chemicals. “Our combined manufacturing footprint across two key regions will offer better security of supply. Our regional service strategy in China and SE Asia has proved beneficial and will be further strengthened with the addition of Eternis’ products. I am excited about our future together.”