Foodsectornews.com - With Glaceau Tata Tea Shows Global Presence In Food Industry

With Glaceau Tata Tea Shows Global Presence In Food Industry

Friday, 15 June 2007

India's 2nd largest company Tata group decided to use a record six hundred and seventy seven million USD for a stake of 30% in "Glaceau", USA based company of bottled water. The agreement accepted the panel

of company holding Tata Sons, the biggest ever-offshore acquisitions by a company in India.

As per the spokesperson of the company, the investment of Tata Group in Glaceau makes its hold strong in USA and also offers opportunities to the worldwide increase for Tata's drinks' trade. Glaceau, which makes bottled waters containing nutrients, earned revenues of 150Mn USD for the year get completed in 2005 & estimates large future growth.

VC (Vice Chairman) of drink segment Tata Tea proclaimed that Glaceau is a division of an extremely exciting, strong business & gives Tata Tea a chance to be there in the describing crossover room in the market for beverages. This business is being done by Tata Tea GB Limited, which covers Tetley Tea's strategies worldwide.

Glaceau's President said that it's good news for the distributors, employees, and retailers accountable for their accomplishments. The partnership guarantees their continuous independence. He further said that the business firm appreciates & values TSG- CP (Consumer Partners) backing for the management and its Company.

Indeed, this venture is clearly way beyond one that India Inc has made overseas this far. Amongst the biggest non-oil overseas reserves so far cover Dr Reddy's purchase of Betapharm for 572Mn. USD & Tata Steel's acquirement of Natsteel for 486Mn USD.