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S&P
BSE SENSEX
73,088.33
+599.34
+0.83 %
Corporate Announcement
Security Code
500800
Company
Tata Consumer Products Ltd
Exchange Received Time
18/05/2020 17:14:33
Exchange Disseminated Time
18/05/2020 17:14:41
Time Taken
00:00:08
Disclosure Under Reg 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (Listing Regulations)- Acquisition Of Pepsico Stake In Nourishco Beverages Limited And Termination Of Joint Venture |
5/18/2020 5:14:34 PM
This is with reference to NourishCo Beverages Limited (NourishCo) which is a 50:50 Joint Venture between the Company and PepsiCo India Holdings Private Limited (PepsiCo).
This is to inform that the Company has decided to acquire the entire stake of PepsiCo in NourishCo (50%), consequently terminating the Joint-Venture and making NourishCo a wholly-owned subsidiary of the Company as well as transfer of rights over the 'Gluco Plus / Gluco+' brand from PepsiCo.
This move is consistent with the Company's focus on widening its portfolio in the Food and Beverages
space and the above acquisition would be providing an established platform to the Company for further
expansion in the Ready-To-Drink Beverage segment.
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