Tata Tea changing name to `Tata Global Beverages'
06 May 2010
Tata Tea will have a new central identity -- Tata Global Beverages Limited - which incorporates all its associate beverage companies across the world
The board of directors of Tata Tea Limited has approved a name change whereby `Tata Tea', `Tetley', `Eight O' Clock Coffee' and other company names will change to one corporate name - Tata Global Beverages Limited, subject to the approval of the shareholders and the central government.
The approval of the shareholders is proposed to be sought by way of postal ballot in accordance with the provisions of Section 192A of the Companies Act, 1956, the company said in a release.
Following the operational integration of its five beverage businesses, announced last year, Tata Global Beverages will unite all beverage interests marking another step in its transformation on the way to becoming a global leader in 'good for you' beverages. However, current brand names will be retained for the products.
Commenting on the announcement R Krishna Kumar said: "Today's announcement clearly demonstrates the group's pride in its Tata parentage and heritage, as well as its intention to build a new and strong global Tata brand." This signals an important milestone in the evolution of the beverage business, where 70 per cent of the current consolidated revenues come from outside of India.
The new name reflects the company's ambition to be global and its brave and successful transition from being a tea and coffee commodity business to one focused on delighting consumers across the world with great-tasting branded beverages. Importantly, it sets out the strategic intent of the company for the coming years, he said.
