Three years ago, Tata Tea sold its 30% stake in Energy Brands Inc (Glaceau) to The Coca-Cola Company for $1.2bn.
Tata Global Beverages – along with beverage investor James Berkeley, key strategic beverage distributors and existing investors (including The Tornante Company and the Eisner family) – will invest $20m in Activate, which will use the funds to expand into new geographical markets. Tata Global’s UK unit has the option of raising its stake in the US firm over the next 12 months.
“This investment is the latest piece in our strategic journey to reach consumers in different ways and to help deliver sustainable hydration across the world,” said Peter Unsworth, group CEO of Tata Global Beverages. “We have ambitious growth plans and a vision to become the leader in the ‘good for you’ beverage segment.”
Source: The Economic Times
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