Tata Tea rechristened as Tata Global Beverages

Source:FC:Ritwik Mukherjee May 06 2010 , Kolkata

In less than a year of br­inging in operational integration, five beverage businesses under Tata Tea, Pepsi in deal for beverage joint venture

Tata Tea have formally come under one corporate name — Tata Gl­obal Beverages. The bo­ard of directors of Tata Tea on Thursday approved the rec­hristening exercise.

Among the beverage bra­nds of the $1.07 billion Tata Tea are Tata Tea, Tetley and Eight O’Clock Coffee. The operational integr­ation of its five beverage bu­sinesses was announced last year.

Tata Global Beverages will now unite all the beverage interests marking another step in the company’s transformation into a global leader in ‘good for you’ beverages. However, the current brand names will remain for its products, the communiqué clarified.

Managing director of Tata Tea R Krishna Kumar said, “The announcement clearly demonstrates the group’s pride in its Tata parentage and heritage, as well as its intention to build a new and strong global Tata brand.”

An official communiqué from the company said: “Tata Tea, Tetley, Eight O’Clock Coffee and other company names will change to one corporate name — Tata Global Beverages Limited, subject to the approval of the shareholders and the approval of the central government. The approval of the shareholders is proposed to be sought by way of postal ballot in accordance with the provisions of Section 192A of the Companies Act, 1956.”

According to tea industry officials, this signals an important milestone in the evolution of the beverage business, where 70 per cent of the current consolidated revenues come from outside of India. The company is present today in around 60 countries. Tetley and Eight O’clock Coffeee are among international acquisitions in recent years in line with its global strategy. It also markets the Hima­layan mineral water brand.

“The new name reflects the company’s ambition to become global and its successful transition from being a tea and coffee commodity business to one focused on delighting consumers across the world with great-tasting branded beverages. Importantly, it sets out the strategic intent of the company for the coming years,” Kumar said.