Tata Consumer Products Ltd has divested its Australian coffee business to Buccheri Group Pty Ltd, which markets its offerings under the brand name of Antico Coffee.
Earth Rules Pty Ltd., the Australian subsidiary of Tata Consumer, sold its MAP coffee business to Melbourne-based Buccheri Group for A$1.25 million (Rs 6.74 crore), the Indian company said in a stock-exchange filing.
Earth Rules had revenue of A$6.23 million and contributed 0.31% of the consolidated revenue of Tata Consumer as on March 31, 2020.
MAP Coffee was established in 2002 and supplied Australian cafes, restaurants and bars with a range of Italian and locally roasted coffee, according to information available on Tata Consumer’s website. It became a part of the Tata Group company in 2014.
Tata Consumer claims to be the second-largest player in branded tea in the world with over 330 million servings everyday across the globe.
Earlier this year, it acquired PepsiCo’s stake in NourishCo Beverages Ltd, an equal joint venture between the two companies.
The company also has a joint venture with Starbucks called Tata Starbucks Ltd, to own and operate Starbucks cafés in India.