Starting as a producer and seller of tea, Tata Global Beverages (till recently Tata Tea Ltd) has emerged a beverage company with the ultimate goal of being in the food business. This was indicated by its Chairman, Mr Ratan Tata, here on Monday.
“Change in name has been done to reflect the change in business of the company, which , going forward, will be more and more beverages and eventually and possibly into food through innovations and the accent will be on wellness and good health products,” Mr Tata observed while addressing the company's shareholders at the annual general meeting.
“We would stay away from products that tend to be unhealthy and injurious to people's health.”
Promoters' stake hike
He indicated that the promoter's stake in all group companies, including Tata Global Beverages, would be hiked and the option available was the creeping acquisition route of five per cent subject to financial limitations.
There would be restructuring of Tetley; he, however, declined to comment on the delisting of Tetley shares in the UK and listing in India.
He sounded very bullish about the tie-up with Pepsi. “The proposed joint venture will be to produce non-carbonated drinks, particularly fortified water products which truly accentuates the company's global intentions in terms of meeting markets,” he said.
The Himalayan mineral water would be part of this operation. The rationalisation of operations through mergers would depend on the scale, he said. The various initiatives pursued to broadbase product categories included infusions in Canada, organic tea in the UK and green tea in Australia and Tion in India which was a new product.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment