U.K. Firm Buys Tessenderlo's Fine Chemical Business

Tennants Consolidated (London) has acquired Tessenderlo Fine Chemicals from Tessenderlo Group (Brussels) for £17 million on a cash-free, debt-free basis. The acquired business produces esters and aroma products, and has production at Leek, U.K. generating sales of just over £45 million/year. It will be renamed Tennants Fine Chemicals. The deal is in line with Tessenderlo's strategy to shift its portfolio toward organic specialty chemicals. "This transaction represents a step forward in our strategy of reshaping the group's activities," says...

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