ENEOS Holdings plans to strengthen its materials business by acquiring US-based TPC Holdings. The acquisition will be carried out through a US subsidiary, with the merger expected to be completed in October 2026.
ENEOS Holdings announced that it will acquire US chemical maker TPC Holdings through its US subsidiary. Following the acquisition, TPC is expected to become a consolidated subsidiary of ENEOS Holdings within its Functional Materials segment, with the merger expected to be completed in October 2026. The purchase price has not been disclosed, but has been reported at approximately $1.27 billion.
The TPC Group is regarded as one of North America's largest independent C4 hydrocarbon processing companies, supplying chemical products for synthetic rubber, fuels, lubricant additives, plastics and surfactants. The acquisition includes a petrochemical complex in Houston, Texas, as well as terminal operations in Port Neches and Lake Charles.
While supply concerns related to the situation in the Middle East have temporarily eased in the chemical industry, demand is seen as weak globally. Against this backdrop, the ENEOS Group aims to reduce its dependence on the Japanese market and capture growing demand in North America, where feedstocks derived from shale gas are available.
The acquisition is expected to make the ENEOS Group the world's third-largest producer by butadiene capacity, a key feedstock for tires and automotive materials. The group plans to strengthen its integrated business platform in North America, spanning C4 chemicals through high-performance elastomers, and to expand its materials business while advancing the portfolio restructuring set out in its medium-term plan.