Tata Tea is looking at acquisitions to complement its product range and aims to be a complete food and beverage company, said Tata Tea Chairman Ratan Tata at the company’s annual general meeting here today.
Without clarifying the segment, Tata said the acquisitions would be strategic and strengthen its presence abroad and provide it access to technology.
He said the company was considering mergers and acquisitions or investments in entities that would be of strategic value to it.
Responding to a query on whether Tata Tea would consider changing its name, Tata said the company would consider it as its complexion had changed from a mere tea company.
Speaking at the annual general meeting, Tata Tea Vice-Chairman R K Krishna Kumar said the company was eyeing markets in the United States and Russia in a big way and could even look at acquisitions.
Tata Tea, which is now a global company with 42 brands in 45 countries, will also look at expanding its wellness range.
Over the last few years, Tata Tea and its subsidiaries have transformed into a branded beverage company. The consolidated turnover of the company and all its subsidiaries was Rs 4,432 crore, of which 90 per cent was contributed by the group’s worldwide branded tea and coffee business.
Divesting its exposure in plantations has made Tata Tea a more stable company. Ratan Tata said, “There was much greater volatility when we had plantations. We will now not have big peaks or big losses.”
