Tata Global Beverages, owner of Tetley Tea, could soon be on the acquisition trail as it plots a move into food.
The Indian group is reportedly looking to sale a stake to private equity investors to raise cash for acquisitions. Advent International and Blackstone are among the investment groups approached by Tata, according to Sky News.
The news comes after the drinks group’s chief executive, Peter Unsworth, said the company was planning a move into food.
“We do not have any capabilities or assets in food, what we have is in beverages,” he told the Indian newspaper Business Standard. “So the route with foods will have to be via acquisitions.”
Focus On Hot Beverages (11 September 2010)
Tetley tea folk make TV comeback (23 August 2010)
Report slams tea brands over worker conditions (28 July 2010)