Tata Global Beverages Ltd has changed its name to Tata Consumer Products Ltd as it spearheads the FMCG ambitions of the $113-billion Tata group.
On Monday, Tata Global Beverages Limited (TGBL) and Tata Chemicals Limited (TCL) announced that the scheme of arrangement between them regarding the Consumer Products Business of TCL is now “operational”, effective from 7 February 2020.
Following this arrangement, the TGBL has been renamed as Tata Consumer Products Ltd (TCPL), a company statement said.
Formation of TCPL marks groups’ new strategic direction, “an accelerated expansion into India’s FMCG market,” said TGBL.
Commenting on the development, Tata Sons Chairman N Chandrasekaran 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,” he added.
TCPL would have iconic brands, including Tata Tea and Tata Salt, reaching over 200 million households. The company aims to build a 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.
(With input from agencies)