Tata Consumer Products completes merger of three wholly-owned subsidiaries
INDIA – Tata Consumer Products Ltd (TCPL), a major player in the fast-moving consumer goods (FMCG) sector, has successfully completed the merger of its three wholly-owned subsidiaries: Tata Consumer Soulfull Pvt Ltd, NourishCo Beverages Ltd, and Tata SmartFoodz Ltd.
The merger, effective from September 1, 2024, follows approval from the National Company Law Tribunal (NCLT) and other regulatory bodies.
In a regulatory filing, TCPL confirmed the fulfillment of all necessary conditions under Clause 17 of the merger scheme, including the submission of certified copies of the NCLT order to the respective registrars of companies.
“We wish to inform you that the conditions outlined under Clause 17 of the scheme, including the filing of certified copies of the order with the registrar of companies, of the respective companies, in form INC-28, have been duly completed. Accordingly, in terms of the scheme, the effective date of the scheme is September 1, 2024,” TCPL stated.
The merger aligns with TCPL’s strategy to simplify and streamline its business operations, enhancing overall efficiency and unlocking synergies within the company.
Despite the legal consolidation, the company emphasized that the operational structure of these business units would remain unchanged, allowing each to continue focusing on its core product offerings.
Tata Consumer Soulfull Pvt Ltd, known for its healthy packaged foods, offers a diverse range of products, including cereals, healthy snacks, and plant-based protein drinks. NourishCo Beverages focuses on hydration solutions in the non-carbonated and ready-to-drink segments.
Meanwhile, Tata SmartFoodz Ltd specializes in ready-to-eat products such as pasta, noodles, and biryani.
With this merger, TCPL’s portfolio now encompasses a wide array of products, including tea, coffee, water, ready-to-drink beverages, salt, pulses, spices, and ready-to-cook and ready-to-eat offerings.
The company’s extensive beverage brand lineup includes Tata Tea, Tetley, Organic India, Eight O’Clock Coffee, Tata Coffee Grand, Himalayan Natural Mineral Water, Tata Copper+, and Tata Gluco+.
In January, TCPL reportedly signed definitive agreements to acquire a 100 percent stake in Capital Foods, the owner of brands like Ching’s Secret and Smith & Jones, as part of its strategy to expand into new FMCG verticals.
Despite a 14.34 percent decline in consolidated net profit to INR 289.25 Cr (US$10.64M) in Q1 FY25 compared to the same period last year, TCPL’s revenue from operations saw a 16.3 percent increase, reaching INR 4,352.07 Cr (US$518.69M), up from INR 3,741.21 Cr (US$445.9M) in Q1 FY24.
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