Mumbai: Tata Tea Ltd is planning to use the newly acquired Mount Everest Mineral Water brand to launch premium and mass-market packaged products for health-conscious consumers, reports quoting a senior company official said.
Tata Tea, the world's second-biggest branded tea firm, has taken management control of Mount Everest Mineral Water Ltd after it bought nearly 26 per cent of the company in June. It plans to make an open offer for a further 20 per cent.
Reports quoting Pradeep Poddar, managing director of Mount Everest Mineral Water, said the company is looking at niche segments such as functional and enhanced water, as well as mass offerings for the lower end of the consumer pyramid.
Tata Tea will use the vitamin- or mineral-enhanced water and basic packaged water to enhance sales, he said.
Tata Tea, which owns the Tetley brand, bought 30 per cent of US vitamin water maker Energy Brands Inc and later sold the stake to Coca-Cola Co in May for $1.2 billion, nearly twice what it paid.
Reports also said Tata Tea was interested in US-based AriZona Beverages and Cadbury Schweppes Plc's North American beverages unit.
Tata Tea bought herbal and fruit tea brands in the US and eastern Europe, and has a green tea venture in China. It also plans a venture in Russia.