Chennai, NFAPost: Tata Consumer Products Limited (TCPL) has announced that it will acquire PepsiCo’s stake in NourishCo Beverages, a 50:50 JV between the two companies. This move is consistent with Tata Consumer’s focus on widening its portfolio in the food and beverages space.
Over the last decade, NourishCo has focused on building brands in the healthy hydration space and has Himalayan mineral water, Tata Gluco Plus and Tata Water Plus in its portfolio. These brands have been crafting their growth models that are now ready for deployment on a wider scale. Over time, Tata Consumer Products intends to use its sizeable resources, the capabilities acquired and the brands it now has, to give wings to its ambition in the value added liquid refreshment beverages space in India, the company said.
Tata Consumer Products Limited is a Consumer Products Company uniting the food and beverage interests of the Tata Group under one umbrella. The company’s portfolio of products includes tea, coffee, water, salt, pulses, spices, and packaged food offerings. Its key beverage brands include Tata Tea, Tetley, Eight O’Clock Coffee, Tata Coffee Grand and Himalayan Natural Mineral Water. Its foods portfolio includes brands such as Tata Salt and Tata Sampann. The company has a consolidated revenue of Rs 10,000 crore and employs over 2,200 people in its branded business.
Tata Consumer Products MD and CEO Sunil D’Souza said, “The liquid beverages category has exciting growth potential and this move will help us strengthen and widen our presence in it. Over the years, NourishCo has built a capable team and a network of distributors, co packers and vendors. We will look to scale up these capabilities further and build a differentiated position in this segment.”
He added, “We would like to thank PepsiCo for their partnership and support to the JV so far. This has been instrumental in helping build a strong foundation for the NourishCo business.”