Tata acquires SuntyCo's Grand in Russia
Tata Global Beverages has acquired the remaining 49% stake of SuntyCo Holding, the owner of the Grand business in Russia, to expand the company's tea and coffee business in the country.
Tata acquired a 51% stake of SuntyCo from Alexander Borisov In March 2009, through one of its overseas subsidiaries along with European Bank of Reconstruction and Development .
Grand is the second largest tea and coffee brand in Russia, so this move gives Tata an advantage to explore the large potential for the growth of hot beverage segment in the country.
Tata Global Beverages has a large portfolio of brands that include Tata Tea, Tetley, Himalayan natural mineral water, Tata Water Plus and Tata Gluco+, Good Earth tea, Grand Coffee and Eight O'clock coffee.
Source: India Everyday
.
| |
