Tata Global Beverages, formerly Tata Tea, stated today that the company's overseas subsidiary based in the United Kingdom has acquired a minority stake in Activate, a performance beverage and bottled water company based in the US.
The subsidiary has an option to increase its stake over the next 12 months.
"The investment is in line with the company's strategic vision to become a leader in the 'good for you' beverage segment", the company stated in a release sent to the Bombay Stock Exchange.
The company's stock was trading at Rs 128.25 or 0.19 per cent down on the BSE as compared to its previous days' closing.
