India’s Tata Tea is to pay US$677m to acquire a 30% stake in Energy Brands Inc. of the US, the company behind Glaceau water.
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Tata is buying the stake from TSG Consumer Partners, a US private equity company.
Signalling its commitment to its new investment, Tata said: “This transaction ensures that Glaceau continues to meet the explosive demand for its vitaminwater brand fuelled by America’s health and wellness revolution.”
The transaction is being made via Tata Tea’s UK subsidiary, which includes Tetley Tea’s operations worldwide.
The Tata group, headquartered in Mumbai, had US revenues of more than $1.97bn, and global revenues of $22bn in 2005-6.
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By GlobalDataGlaceau brands include vitaminwater, which is nutrient-enhanced, smartwater which is electrolyte-enhanced, and fruitwater, which is flavour-enhanced.
