Tata Consumer divests stake in Emprical Group, Southern Tea
Tata Consumer Products (TCPL) said its step-down subsidiaries in the USA have decided to divest their entire membership interest in Empirical Group and Southern Tea to the joint venture partner, Harris Tea Company, USA. Empirical Group is engaged in the business of selling primarily white label tea and coffee in the foodservice channel and to contract customers. Southern Tea is a manufacturing entity acting as a supplier to Harris Tea and TCPL (Empirical, Tetley and Good Earth brands). This move is in line with TCPL's focus on its core branded businesses in International markets. It will help...
Source: business-standard.com