Tata Global Beverages Ltd (TGB), the joint venture between Pepsico India and Tata Tea, plans to enter into the global food industry with a range of healthy food products.
Tata Tea was initially a plantation company that evolved into a beverage manufacturer and which signed a joint venture agreement with PepsiCo India. The agreement was originally to market health drinks under the Tata Global beverages brand, but it now hopes to leverage PepsiCo’s distribution channels to market food.
Tata Group chairman Ratan Tata, speaking at the company’s AGM yesterday, said the company expects operating profits to grow EBITDA levels by 15% year-on-year, and TGB brands would be present in over 100 countries by 2015.
In addition to India, Tata has plans to enter the USA, South America and Russia with food and beverage products.
Ratan Tata has announced his retirement as Group chairman by end 2012 when he turns 75 and his successor is expected to be announced by March next year.