India’s Tata Chemicals has acquired salt producer British Salt for £93 million in a deal which will see the conglomerate further increase its presence in the UK food and agriculture sectors.
India’s Tata Chemicals has acquired salt producer British Salt for £93 million in a deal which will see the conglomerate further increase its presence in the UK food and agriculture sectors.
Brunner Mond, a wholly owned Tata subsidiary, has signed a binding agreement to acquire Cheshire Salt Holdings, the parent company of British Salt, which manufactures pure dried vacuum salt. The acquisition remains subject to regulatory approval, which British Salt expects to receive before the end of January, the Cheshire-based company says in a statement.
Brunner Mond, a manufacturer and supplier of soda ash and sodium, purchased the company from mid-market private equity firm LDC, which backed the original management buyout of British Salt in 2007. British Salt claims to have a UK market share of 50 per cent and brine wells with residual life of 50 years.
Tata Chemicals managing director Ramakrishnan Mukundan says, ‘the acquisition is in line with the strategy of Tata Chemicals to deepen its presence in the food and farm sectors’ and will result in ensuring ‘raw material for Brunner Mond operations’.
British Salt chief executive officer Bill Thompson adds that ‘given the strategic alignment’ of the businesses, the ‘acquisition provides a major opportunity to achieve growth in our chosen markets’.
