Tata Consumer Products completes merger of subsidiaries to simplify business
Three wholly owned subsidiaries in India (Tata Consumer Soulfull Pvt Ltd., NourishCo Beverages Ltd. and Tata SmartFoodz Ltd.) will be merged with Tata Consumer Products Limited.
ADVERTISEMENT
Tata Consumer Products Limited (TCPL) has received approval from the NCLT (National Company Law Tribunal) for the merger of its wholly owned subsidiaries- Tata Consumer Soulfull Pvt Ltd., NourishCo Beverages Ltd. and Tata SmartFoodz Ltd. with TCPL. This is in line with the Company’s focus on simplifying and streamlining the business. This consolidation of legal entity structure will unlock efficiencies and synergies.
There is no change in the operating structure for these business units and they will continue to stay focused on the following portfolios- Millet based products, Ready to Drink products and Ready to Cook/Ready to Eat products, the company said. It added, these product portfolios are part of the growth businesses for Tata Consumer Products.
Sunil D’Souza, MD & CEO, Tata Consumer Products Limited said, "We have been reorganizing our business in line with our strategic priorities - to unlock synergies and create a future ready organization. This merger is one more step towards building a simplified and agile business. It will enable administrative and financial synergies."
He added that retaining the existing business operating structure will provide continuity and ensure these businesses stay focused on the growth agenda.
Tata Consumer Products Limited is a focused consumer products company uniting the principal food and beverage interests of the Tata Group under one umbrella. The Company’s portfolio of products includes tea, coffee, water, RTD, salt, pulses, spices, ready-to-cook and ready-to-eat offerings, breakfast cereals, snacks and mini meals.
Tata Consumer Products is the 2nd largest branded tea company in the world. Its key beverage brands include Tata Tea, Tetley, Organic India, Eight O’Clock Coffee, Tata Coffee Grand, Himalayan Natural Mineral Water, Tata Copper+ and Tata Gluco+. Its foods portfolio includes brands such as Tata Salt, Tata Sampann, Tata Soulfull, Ching’s Secret and Smith & Jones.
