Published 03rd May, 2016
Tide Water Oil is acquiring Price Thomas Holdings.
The British Lubes company is being bought for £9.59m (about Rs 91 crore) giving Indian Tide Water Oil a route into Europe and a 100% equity stake in the company.
The Veedol brand Image: Tide Water Oil |
A supplier of lubricant and car care products, Price Thomas Holdings' manufacturing base is in the UK with an export market in Ireland, Sweden and Bulgaria.
Tide Water Oil manufactures and sells Veedol lubricating oil. The company's revenue increased by 4.68% to Rs 246 crore in Q3FY16 as compared to same period in previous fiscal year.