Tata Consumer Products Ltd (TCPL) had announced that it will acquire the stake of PeopsiCo in their joint venture, NourishCo Beverages in May. Now, it is heard that the company is not going to stop at this but is looking for more in fast-moving consumer goods (FMCG) space.
According to source, Tata Consumer Products Ltd (TCPL), formed recently by the merger of Tata Global Beverages and Tata Chemicals, is looking for buyouts of some FMCG companies.
At the virtual annual general meeting in July, TCPL, chairman, N Chandrasekaran had said, “TCPL will aim at emerging into a full-fledged FMCG firm and also scout for new opportunities in the international markets.”
He added that TCPL is looking at a vast portfolio of consumer products, as the demand for packaged foods is higher than usual. However, he had stated that the company will strengthen distribution and marketing channels so that its products are available nationwide. The company will also strengthen presence in the US, UK and Canada.
The company is home to major brands like Tata Salt, Tata Tea, Tetley, Good Earth Teas, Starbucks Coffee—A Tata Alliance among others.
At this time of COVID-19 pandemic, FMCG industry has grown. According to data, insights and consulting company Kantar, household consumption of FMCG products in April-June 2020 was the highest in the last two years, led by personal care items. The FMCG industry registered a growth of 4.3 per cent in volume and 8.5 per cent in value terms in the lockdown-hit April-June quarter.