Tene Capital sells Sharon Personal Care to Indian buyer for appx. USD150m
Tene Capital Fund, alongside Sharon Laboratories Ltd. and the Burstein family, has successfully sold Sharon Personal Care Ltd., the core cosmetics division of Sharon Laboratories, to Indian corporation Eternis Fine Chemicals Limited for an estimated USD 150 million.
This sale marks a significant milestone, more than doubling the value of the company since Tene’s 2017 acquisition at a valuation of USD 70 million.
Sharon Laboratories, founded in 1977, specialises in manufacturing chemicals and natural preservatives for the cosmetics and food industries. Tene acquired a 60% stake in 2017 for USD 40 million, injecting USD 12 million in additional capital. The remaining operations of Sharon Laboratories are expected to be sold in the coming months.
EBN acted for Tene Capital Fund, Sharon Laboratories Ltd. and the Burstein family on the transaction, which was led by newly appointed managing partner Lior Oren, as well as Eyal Wiesel, and Kobi Barkan, with support from specialists across corporate, environmental, labour, real estate, privacy, and tax law.
