'JVs with Starbucks, PepsiCo to cement Tata Global's position' - Hindustan Times
close_game
close_game

'JVs with Starbucks, PepsiCo to cement Tata Global's position'

PTI | By, Kolkata
Aug 31, 2012 08:47 PM IST

Joint ventures with Starbucks Coffee and PepsiCo would cement Tata Global Beverages' position in the market place, group chairman Ratan Tata said today.

Joint ventures with Starbucks Coffee and PepsiCo would cement Tata Global Beverages' position in the market place, group chairman Ratan Tata said on Friday.

HT Image
HT Image

"The joint ventures with Starbucks Coffee and PepsiCo will cement the company's postion in the market and it will no longer be the company it used to be," he said in his last speech as the chairman of the Tata Group in the annual general meeting in Kolkata.

Hindustan Times - your fastest source for breaking news! Read now.

Tata Global JV with Starbucks has been named Tata Starbucks Ltd, while that with Pepsico as NourishCo.

Tata said Tata Starbucks would open coffee outlets within the country and the PepsiCo JV would launch hydration products based on the health and wellness platform.

The company has looked at opportunities in the instant coffee business in Uganda, but the "venture did not work out".

"We are still looking at new ones," he replied to shareholders' queries.

Tata said the depreciation of the rupee had been beneficial to the company.

He also ruled out any plan to acquire tea gardens as the company had ceased to be a plantation company when it was Tata Tea.

"Today we have grown beyond tea now it is a beverages company," he said.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On