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Tata Tea has announced that it will soon have a new name. The company is currently reorganising its business, adding more focus on global distribution and marketing.
The company is a process to rechristen Tata Tea within the next 2-3 weeks, merge all its subsidiaries and associates as a single entity. It is also eyeing for a major acquisition in the US beverages space. There are plans to move its operational HQ away from London, so that its global footprint can be maintained.
“An international consultant is working on the new name and logo of the company, which will spread the message that Tata Tea is truly a global beverages firm,” said RK Krishna Kumar, vice-chairman of Tata Tea during the company’s AGM on Tuesday.
At present, Tata Tea has cash reserves of Rs 1,700 crore which it intends to use for global acquisitions. “We are looking at acquisitions across the globe. To be very specific, we are really looking at a major acquisition in the US,” Mr Krishna Kumar added. The company is also open to the idea of JV and partnerships.
The company’s long-term vision is to merge all subsidiaries and associates. “This is our vision. It all depends on the compliance norms. There will be one corporate entity under which there will be several brands like Tetley, Jemca, Good Earth, Eight O’ Clock and others. This is part of the company’s financial integration plan, which will make it more cost-efficient,” he explained.
