Simmons has advised Eternis Fine Chemicals Limited (Eternis), one of the world's leading aroma chemical manufacturers headquartered in Mumbai, India, on the acquisition of the entire share capital of Tennants Fine Chemicals Ltd (Tennants Fine Chemicals), the largest primary manufacturer of specialty aroma chemicals in the UK.
Eternis acquired Tennants Fine Chemicals through its UK subsidiary, Eternis UK Limited and as a result of the transaction will expand and complement the range of aroma chemicals offered to customers, whilst leveraging the multi-location manufacturing and distribution platforms to better service customers regionally and de-risk supply chain. Eternis has also acquired Tennants Fine Chemicals’ wholly owned subsidiaries in Singapore and China.
This is a significant out-bound transaction coming out of India in recent years, especially given these challenging times. Simmons acted as Eternis’ international legal counsel on the transaction and worked closely with DSK Legal, a leading full-service law firm in India. The transaction is one of several transactions Simmons is advising on involving India-based companies and demonstrates Simmons’ growing footprint for India-related work.
The Simmons team working on the transaction was led by corporate partner Arthur Stewart and counsel and head of India for UK corporate Shashwat Patel.