Tata Consumer Products to spearhead FMCG ambitions
The
Scheme of Arrangement for Tata Consumer Products Business is
operational, and it marks a new strategic direction for the Company
Tata Global Beverages Limited (TGBL) and Tata Chemicals Limited (TCL)
announced that the Scheme of Arrangement between TGBL and TCL regarding
the Consumer Products Business of TCL is now operational, effective from
7th February 2020. Following this, TGBL has been renamed “Tata Consumer Products Limited.”
The
formation of Tata Consumer Products Limited (TCPL, Company) marks a new
strategic direction, an accelerated expansion into India’s Fast-Moving
Consumer Goods (FMCG) market, while maintaining a leading and strategic
presence in the International beverages market.
In
India, Tata Consumer Products’ bouquet of consumer brands will benefit
from the scale of its iconic brands, including Tata Tea and Tata Salt,
reaching over 200 million households. This deep distribution
architecture will also be supported by the Tata Group’s brand building
prowess. The Company intends to further build on the strong platform
provided by its market leading positions in tea and salt by investing in
R&D, branding, marketing, manufacturing and distribution to create a
stronger and larger food and beverage platform.
The
Company’s innovation capabilities, product portfolio and distribution
reach positions it well to meet evolving consumer needs across the food
and beverages spectrum.
Tata
Consumer Products stands ‘For Better.’ The Company’s endeavour is to
always aim for better- better products, better nutrition, better living.
It is our belief that every person in this world strives for a better
life. By constantly pushing the boundaries in everything we do – the
quality of our products and services, our contribution to the community
and the planet, productivity and happiness across all our workplaces and
partnerships, and the wealth which we create for all our stakeholders –
we will be restless evangelists for a better life.
Speaking on the announcement, Mr N Chandrasekaran, Chairman, Tata Sons said, “The
merger of the consumer businesses of Tata Chemicals and Tata Global
Beverages Limited under Tata Consumer Products consolidates the group’s
presence in the fast-growing consumer sector. Tata Consumer Products
would be in a unique position to leverage the strong brand, wider
product portfolio and distribution reach to serve the growing
aspirations of consumers across the country."
No comments:
Post a Comment