Tag: Tata Group

Competition Commission of India approves BigBasket’s 64% stake sale to Tata Digital

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INDIA – The Competition Commission of India (CCI) has given the green light for Tata Sons’ proposal to acquire a majority stake in Alibaba-backed BigBasket. Tata Digital, a wholly-owned subsidiary of Tata Sons, had sought CCI’s approval to acquire a 64.3% stake in Supermarket Grocery Supplies, the business-to-business arm of BigBasket, through a mix of primary and secondary share purchases. This is after the group had finalised a US$1.2 billion deal to acquire a majority stake in BigBasket, of which US$200-250 million would be a primary cash infusion into the…

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Starbucks opens 40 new coffee stores in India as KFC doubles down on women employment

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INDIA –  Tata Starbucks, a 50:50 joint venture between Tata Consumer Products Ltd and Starbucks Corporation, has continued its bullish expansion in India, venturing into 7 new cities and opening 40 new stores in its wake. This fiscal year has been eventful for Tata Starbucks in terms of expansion plans and reaching customers in newer cities and locations. In FY21, Starbucks opened stores in new cities such as Lucknow, Amritsar, Kochi, Ludhiana, Bhopal, Indore, and now Kanpur. Kanpur becomes the 18th city in India and second city in Uttar Pradesh…

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Sushant Dash to take charge of Tata Starbucks as CEO Navin Gurnaney exits

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INDIA – Tata Starbucks, a 50/50 joint venture between Tata Consumer Products and Starbucks Corporation, has announced the appointment of Sushant Dash as CEO designate effective April 1, 2021. Dash is replacing Navin Gurnaney who Tata Starbucks said has made the decision to pursue an opportunity outside of the company.  Under Gurnaney’s leadership, the company experienced accelerated growth, new city entries and store formats. During Gurnaney’s tenure, the venture also made numerous contributions related to social impact initiatives, as well as innovative product offerings. Dash will take over as CEO…

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Tata Coffee’s profits up 20% as parent company eyes acquisition of maker of Soulfull cereals

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INDIA – Tata Coffee, one of the largest integrated Coffee cultivation and processing companies in the world, has reported a 20% rise in net profit for the third quarter ending December 2020. According to a statement from the company, net profit rose to Rs 50.18 crore (US$6.87 million) from Rs 41.99 crore (US$5.758 million) earned during the same period in the previous financial year. Total income attributable to the group rose to Rs 538.19 crore (about US$73.8 million) in the third quarter of this financial year from Rs 505.75 crore…

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Tata Group eyes majority stake in India’s largest online grocer BigBasket

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INDIA – India multinational conglomerate Tata Group is in advanced talks with Alibaba- backed online grocer BigBasket, to acquire a 50% controlling stake for about $1 billion. If successful, the deal could see the Alibaba Group which is the grocer’s largest investor sell its 26% stake along with a clutch of financial investors which include Ascent Capital, CDC Group and the Abraaj Group. The negotiations with Tata Group come at a time when BigBasket is engaged with investors like Temasek, Generation Investment Management, Fidelity and Tybourne Capital, to raise US$350-400…

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PepsiCo sells its stake in NourishCo Beverages to JV partner Tata Consumer

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INDIA – Tata Consumer Products Limited, the non-alcoholic beverages subsidiary of Tata Group has agreed to acquire PepsiCo’s stake in NourishCo Beverages Limited, a 50:50 joint venture between the two companies. The move follows the companies’ prior announcement, in January this year, an agreement to revise their engagement terms in NourishCo Beverages. Pepisco and Tata Consumer Products (formerly Tata Global Beverages) formed NourishCo in 2010 to sell products in the non-carbonated ready-to-drink hydration space. The key triggers for the revision included the Tata’s move to become a larger player in…

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Tata Group to consolidate consumer goods business in corporate structuring

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INDIA – Tata Group is looking to consolidate its consumer products businesses, which will be housed under one roof in a strategy the company says will help simplify corporate structure and consolidate operations in similar lines of businesses. ET Retail has revealed that the group will transfer the branded salt, pulses, masalas and ready-to-eat snacks portfolio operated under different Tata companies to Tata Global Beverages. According to people familiar with the matter identified by ET Retail, the proposal will see restructuring of Tata Global Beverages, reflecting the changing profile of…

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