New Delhi, Dec. 22 -- Tata Chemicals, Varun Beverages, hospital-chain operator Park Medi World and solar-module maker Waaree Energies have announced strategic merger and acquisition deals.

Tata Chemicals-Novabay

Tata Chemicals International Pte. Ltd., a wholly owned subsidiary of Tata Chemicals Limited, has signed a share purchase agreement (SPA) to acquire 100% equity in Singapore-based premium-grade sodium bicarbonate makers Novabay Pte. Ltd for $29.25 million (over Rs 262 crore) to strengthen its product offering in this segment, the company said in a regulatory disclosure.

Novabay is primarily engaged in manufacturing and sale of premium grade sodium bicarbonate serving pharma, food and personal care segments in Europe, Americas, Oceania, Asia, Middle East and ASEAN markets.

The company's revenue for 2024 was around $23 million.

Varun Beverages-Twizza

PepsiCo's largest franchise bottler Varun Beverages will fully acquire Twizza, a South Africa-based non-alcoholic beverage maker, through its local subsidiary Bevco, the company said in a regulatory filing.

The deal, valued at an enterprise value of ZAR 2.01 billion (Rs 118.7 crore), will be paid in cash and is expected to close by June 30, 2026, subject to approvals.

Twizza operates three plants in Cape Town, Queenstown, and Middelburg with an annual capacity of 100 million cases and backward integration facilities.

For FY25, Twizza reported turnover of ZAR 1.7 billion (Rs 901 crore), a near 3% jump from FY24. VBL said the acquisition will help Bevco deepen its presence in South Africa and expand its product portfolio. Post-deal, Twizza will become a step-down subsidiary of Varun Beverages.

Park Medi-KP Institute of Medical Sciences

Park Medi World, operators of one of North India's leading hospital chains with the brand name Park Hospital, has agreed to acquire KP Institute of Medical Sciences (KPIMS) for Rs 245 crore (around $27.4 million) in an all-cash transaction, the company said in a statement.

The move strengthens Park Group's presence in key North Indian cities. Post-integration, the facility is expected to deliver immediate value, with plans to enhance clinical programs, boost efficiency, and optimise utilization in the coming years, the statement added.

The acquisition of a 60-bed tertiary-care hospital is part of the chain's cluster-based growth strategy, which focuses on operational efficiencies and economies of scale by developing hospitals in close proximity.

Park Group currently operates 14 hospitals with a combined capacity of 3,250 beds. In addition to the proposed facility in Agra, the group is integrating six more hospitals at various stages of execution, adding 1,650 beds.

This expansion will take Park Group's total capacity to 5,260 beds by March 2028, the statement said. The group has a strong presence across key cities, including Delhi, Gurgaon, Faridabad, Panipat, Karnal, Sonipat, Ambala, Mohali, Patiala, Bathinda, Behror, and Jaipur.

Waaree-United Solar Holding

The US arm of Waaree Energies has signed a binding term sheet to invest $30 million (around Rs 269 crore) in United Solar Holding Inc. (USH) by subscribing to Series B preferred shares, according to a regulatory filing reviewed by VCCircle.

The deal is expected to close by January 31, 2026, and aims to secure a long-term, traceable polysilicon supply chain for Waaree's global manufacturing expansion.

USH, incorporated in May 2023 in the Cayman Islands, operates an advanced polysilicon facility in Oman, designed to support multi gigawatt solar module production annually.

Published by HT Digital Content Services with permission from VC Circle.