Tata Beverages, Kerala Ayurveda JV likely
29 January 2011
The Board of Tata Global Beverages on Friday approved a memorandum of understanding signed with Kerala Ayurveda with the intention of exploring the formation of a joint venture focusing on development of a range of beverage and food products.
These products will be based on proven ayurvedic recipes, actives and formulations for the global market, as there is worldwide recognition of the benefits of Ayurveda for good health and wellness, Tata Global Beverages said in a statement from Bangalore.
Definitive agreements are expected to be finalised over the next few months. The transaction will be subject to corporate and statutory approvals as may be required. The proposed joint venture is not intended to conflict with any existing arrangements of either party.
Tata Global Beverages is a global beverage business with interests in beverages, tea and coffee. The group's annual turnover is $1.5 billion and it employs around 3,000 people in over 40 countries worldwide. The company focuses on 'good for you' beverages and has a stable of innovative regional and global beverage brands, including Tata Tea, Tetley tea, Himalayan natural mineral water, Good Earth and Eight O'clock coffee.
Kerala Ayurveda was founded in Aluva, Kerala in 1945 by the late K G K Panicker, a renowned 'ayurvedacharya'. Now, more than half a century later, his creation epitomises all that is modern and state-of-the-art in Ayurveda. Kerala Ayurveda has over 100 ayurvedic doctors, graduates and post-graduate medical staff, with several years of experience.
Kerala ayurveda operates a chain of 30 treatment centres and clinics and three ayurveda hospitals located across India, and a wellness resort in Bangalore, ''AyurvedaGram''. Through its subsidiaries in the United States, Kerala Ayurveda has a significant presence across five locations there and offers a range of ayurvedic courses, treatments and healthcare services.