Shell Acquires Raj Petro Specialities
Energy and petrochemical powerhouse Shell has acquired a complete stake in Raj Petro Specialities, based in Mumbai, to enhance its market share and broaden its product offerings in the lubricant sector. This acquisition will strengthen the company's presence in the world's third-largest lubricants market. Shell, which operates from 13 separate office locations in India, engages in various sectors, including lubricants, mobility, renewables, power, gas, and aviation.
The company has also invested in ventures such as Rapido, Orb Energy, Freshbus, and Offgrid Energy. Shell has already committed over $5 billion in India throughout the energy value chain, including LNG import terminals, fuel stations, renewable energy, and technology centers, and has obtained 100 percent equity interest in Raj Petro Specialities Pvt Ltd from Germany's Brenntag Group.
"I think the acquisition of Raj Petro marks a significant milestone for the lubricants business in the country. India is the third biggest lubricants market and from our strategic intent, India is one of the important growth markets. So we have always been looking at ways by which we can serve more consumers with more products at the right price points," says Mansi Madan Tripathy, Chairman of Shell Group of Companies in India and Vice President - Lubricants Asia Pacific.
Without revealing specific financial information about the deal, she stated that Shell Lubricants' purchase of Raj Petro Specialities aligns with its strategy to expand its portfolio and customer base in India, a major growth market for the company.
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Raj Petro provides a diverse array of products, including transformer oil, petroleum jellies, white oils, waxes, and lubricants. The firm, which has been based in Mumbai for over 80 years, was acquired by Germany’s Brenntag in 2017-18.
Operating a lubricant oil blending facility in Taloja, Maharashtra, Shell intends to enhance its network of over 200 distributors through the acquisition of Raj Petro. This strategic move allows Shell to add value by expanding its lubricants portfolio and increasing its customer base in India.
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Raj Petro introduces a new range of products in growing sectors such as pharmaceuticals, personal care, power transmission, and white oils, which complements our existing portfolio and provides enhanced value to our customers in innovative ways.