# Pidilite Industries to acquire 70% stake in Tenax India Stone Products

Pidilite Industries announced it will acquire a 70% stake in Tenax India Stone Products, the Indian subsidiary of Italian firm Tenax SPA, for approximately Rs 80 crore. Tenax India is engaged in sales and distribution of adhesives, coatings, and surface treatment chemicals for the marble and stone industry.

- Type: Acquisition
- Announced: 2020-02-27
- Where: India
- Value: $11.2M (800.0M INR)
- Status: announced
- Products: adhesives, coatings, surface treatment chemicals, abrasives
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Pidilite Industries](https://endata.com/companies/19780.md) (acquirer)
- [Tenax India Stone Products](https://endata.com/companies/45571.md) (target)
- [Tenax SPA](https://endata.com/companies/45572.md) (partner)

## Sources

- [business-standard.com](https://www.business-standard.com/article/pti-stories/pidilite-to-acquire-majority-stake-in-tenax-india-stone-for-rs-80-cr-120022701196_1.html), 2020-02-27: "This acquisition will help expand Pidilite's presence in the fast-growing adhesives, coatings and surface treatment chemicals market for the marble and stone industry and bring world class technology to India by investing in a manufacturing plant."
- [economictimes.indiatimes.com](https://economictimes.indiatimes.com/markets/stocks/news/pidilite-acquires-majority-stake-in-tenax-india-stone-products/articleshow/74404832.cms), 2020-02-28: "This acquisition will help expand Pidilite’s presence in the fast-growing adhesives, coatings and surface treatment chemicals market for the marble and stone Industry."
- [pinkerala.com](https://www.pinkerala.com/news/pidilite-industries-announces-the-acquisition-of-the-majority-stake-in-tenax-india-stone-products-pvt-ltd), 2020-03-02: "This acquisition will help expand Pidilite’s presence in the fast-growing adhesives, coatings and surface treatment chemicals market for the marble and stone Industry."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.