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Tata Consumer Products divests its stake in JVs Empirical Group and Southern Tea

Tata Consumer Products announced that the overseas step-down subsidiaries of TCPL in the USA have entered into an arrangement for the sale of its entire membership interest held in Empirical Group LLC (Empirical) and in Southern Tea, LLC (Southern Tea) to its Joint Venture Partner - Harris Tea Company LLC on 31 March 2021. Empirical is engaged in the sale of tea and coffee for food services and contract customers and Southern Tea is a manufacturing entity managed by Harris Tea Company LLC, JV partner. This move is in line with TCPL s focus on its core branded businesses in International markets. It will help further simplify and streamline the Company s operations to enhance business effectiveness and profitability. Following this transaction, Southern Tea will continue to manufacture for Tetley and Good Earth brands.

United statesEmpirical groupHarris tea companySouthern teaTata consumer productsJoint venture partnerTea companyGood earthCapital marketEconomy of indiaIndian cultureReal estate rentalDevelopment amp operations necPaper packaging necCoffee amp teaHarris tea company llc

Sensex ends above 50K, Nifty crosses 14,850

The domestic equity indices ended near the day s high on Thursday led by gains in banks and auto stocks. As per the provisional closing data, the barometer index, the S&P BSE Sensex, jumped 520.68 points or 1.05% at 50,029.55. The Nifty 50 index advanced 176.65 points or 1.2% at 14,867.05. The buying was supported by positive global cues, backed by strong factory activity data in euro zone and Asia last month, and the optimism around the U. S. government s $2 trillion spending plan. US President Joe Biden unveiled a massive infrastructure package on Wednesday, which includes roughly $2 trillion in spending over eight years. The government will raise the corporate tax rate to 28%, combined with measures designed to stop offshoring of profits, to fund the infrastructure plan within 15 years.

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Tata Consumer to divest stake in US-based Empirical Group, Southern Tea

Tata Consumer Products Ltd (TCPL) on Thursday announced exit from its two US-based joint ventures by selling its stake to the JV partner Harris Tea Company LLC. TCPL s step-down subsidiaries in the USA have decided to divest their entire membership interest in Empirical Group LLC and Southern Tea LLC to the JV partner Harris Tea Company LLC, USA (Harris Tea), the company informed in a regulatory filing. The exits from both the JVs are in-line with TCPL s strategy to focus on the core branded business, it added. We hereby inform that the overseas step-down subsidiaries of TCPL in the USA have entered into an arrangement for the sale of its entire membership interest held in Empirical Group LLC (Empirical) and in Southern Tea, LLC (Southern Tea) to its Joint Venture Partner - Harris Tea Company LLC on March 31, 2021, it said

United statesSunil dsouzaEmpirical groupHarris tea companySouthern teaTata consumer products ltdHarris teaJoint venture partnerTea companyTata global beveragesஒன்றுபட்டது மாநிலங்களில்சுனில் ட்சொஜாஅனுபவ குழுஹாரிஸ் தேநீர் நிறுவனம்தெற்கு தேநீர்டாடா நுகர்வோர் ப்ராடக்ட்ஸ் லிமிடெட்

Tata Consumer divests stake in Emprical Group, Southern Tea

Tata Consumer Products (TCPL) said its step-down subsidiaries in the USA have decided to divest their entire membership interest in Empirical Group and Southern Tea to the joint venture partner, Harris Tea Company, USA. Empirical Group is engaged in the business of selling primarily white label tea and coffee in the foodservice channel and to contract customers. Southern Tea is a manufacturing entity acting as a supplier to Harris Tea and TCPL (Empirical, Tetley and Good Earth brands). This move is in line with TCPL s focus on its core branded businesses in International markets. It will help further simplify and streamline the Company s operations to enhance business effectiveness and profitability. Following this transaction, Southern Tea will continue to manufacture for Tetley and Good Earth brands.

United statesSunil dsouzaEmpirical groupHarris tea companyTata groupTata consumer productsSouthern teaHarris teaGood earthCapital marketEconomy of indiaIndian cultureReal estate rentalDevelopment amp operations necCoffee amp teaBeverage interests

Tata Consumer Products to divest stake in US-based Empirical Group, Southern Tea

Tata Consumer Products to divest stake in US-based Empirical Group, Southern Tea
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