Tide Water Oil Co. (India) Ltd., a leading player in the Indian Lubricant Industry since 1921, has acquired 100 per cent of the shares of Price Thomas Holdings Limited (PTHL). PTHL owns the entire issued ordinary share capital in Granville Oil & Chemicals Limited.
With a company history spanning more than 50 years, Granville is a well-known manufacturer and marketer of a wide range of automotive lubricants, maintenance, valeting and car care products.
Garry Holland and his team will continue to run the Granville operation including the ongoing distribution of Autosol, Turtle Wax, Gunk, Slick 50 and Rain X brand products to the automotive aftermarket and plans are under consideration to invest in increased manufacturing and storage capacity at the operation in the UK.
Tide Water, having built a substantial lubricant business in India using the Veedol Brand, and having acquired the rights of the Veedol Brand globally from BP group companies in 2011, had an obvious interest in acquiring PTHL as it presented unique synergies.
The brand “Veedol” has a long history, built from its grand beginnings in several of the world’s most important lubricant markets. It was the motor oil chosen by Henry Ford to be the lubricant in the world’s first mass-produced car, the Model ‘T’ Ford in the USA. It was also the chosen lubricant for the first airship to fly around the world, the Graf Zeppelin from Germany, and the first non-stop flight across the Pacific Ocean from Japan to the USA, the “Miss Veedol” plane.
Millions of motorists across the world have at one time or another used Veedol lubricants for their cars, bikes or trucks.
Tide Water is keen to develop a presence in the UK and to expand sales into Europe. “The Combination of Tide Water’s technical and financial strength together with Granville’s distribution and marketing skills will ensure a bright future for both the Company and our Customers” said RN Ghosal, MD of Tide Water.