Tata Global Beverages Ltd (TGBL), formerly known as Tata Tea, through its UK-based subsidiary, has acquired Australian firm Bronski Eleven Pty Ltd, for an undisclosed amount, as per a stock market disclosure.
"The investment is in line with the company's strategic vision to become a leader in the good-for-you beverage segment in Australia and it also helps Tata Global Beverages to expand its portfolio to include high growth contemporary single serve business," the company said in the filing.
Bronski Eleven is engaged in coffee business under the MAP brand, with presence in the roast and ground or R&G coffee and coffee in Pods (single service portions) segments in Australia.
We have contacted the company spokesperson for more details on the Australian firm and will update the copy as we hear from the firm.
Tata Global Beverages, the second-largest player in tea in the world, serves the consumers with its flagship brand, Tata Tea Premium and other brands like Tetley, Good Earth Teas and JEMČA. The firm originates over 65 per cent of the consolidated revenue from markets outside of India.
The company, which already owns majority stake in Tata Group’s public listed coffee company Tata Coffee, has been looking to boost its presence in the coffee business.
It had sealed a deal to bring Starbucks, the world’s largest coffee chain to India. The venture had rolled out outlets swiftly and has quickly emerged as one of the key players in the coffee chain business in the country. It competes with the likes of market leader Café Coffee Day, Barista Lavazza and Costa Coffee among others.
In another development, last November, Tata Global Beverages merged its packaged drinking water subsidiary Mount Everest Mineral Water Ltd, which operates through its premium brand Himalayan, with itself for increasing operational efficiency and better synergy between both businesses.
(Edited by Joby Puthuparampil Johnson)