Tata Group serves everything from salt to spices, tea to coffee in your plate. The entire range of breakfast cereals, ready to cook items and even pulses are part of Tata's 'food family'. Now you will get the taste of Chinese food in it, and it will also give competition to 'Maggi Noodles' in the Tata market.
In fact, Tata Group has come close to locking the deal for the acquisition of two food companies. One company in this is Capital Foods and the other is Organic India. Capital Foods is the owner of brands like 'Ching's Chinese' and 'Smith & Jones'. So Organic India sells other products like green tea. Fab India has invested in this.
The deal will be worth this many crores
Tata Group company 'Tata Consumer Products Limited' is buying 75% stake in Capital Foods from its investors. Ajay Gupta, founder chairman of Capital Foods, will retain his 25% stake in it. The valuation of the company has been estimated at Rs 5100 crore, so this deal can be done for Rs 3,825 crore.
Similarly, Tata Group is also going to buy majority stake in Organic India. The valuation of Organic India for this deal has been fixed at Rs 1800 crore. Tata Group can make an official announcement regarding both these deals in the next week. However, no company has given any statement regarding this yet.
Will give competition to 'Maggi'
After the acquisition of Capital Foods, Tata Group will enter the instant noodles market. The product portfolio of 'Smith & Jones' includes 'Ginger-Garlic Paste', 'Ketch-up' and 'Instant Noodles'. With this, Tata will compete with Nestle's 'Maggi' brand in the market. 'Maggi' has 60% market share. Whereas Yeppi, Top Ramen, Wai-Wai and Patanjali are big players in this segment. This market is worth about Rs 5,000 crore.
No comments:
Post a Comment