Tata Coffee, a coffee subsidiary of Indian tea conglomerate Tata Tea, is set to buy a significant stake in the coffee bar chain Barista, reports the Hindu Business Line. The deal is expected to be concluded by the end of this week.
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The deal is likely to involve Tata Coffee purchasing a stake in Java Coffee Ltd, which is owned by Turner Morrison. Java Coffee has promoted the Barista chain of coffee bars, to which Tata has been supplying coffee for the past twelve months.
According to Barista’s business plan, there should be 75 outlets up and running by the end of this financial year.
