According to reports the Tata Group is likely to submit a bid for Cadbury Schweppes''s
Snapple range of beverages.
Economic Times reported today that The Tata Group
was in talks with private equity funds Blackstone and
Lion Capital to join them as a minor partner in the acquisition
of the popular juice brand.
to the report, the Tata Group is not interested in the entire beverages portfolio
of Cadbury Schweppes, and wants the right to carve out Snapple if the Blackstone
consortium emerges successful in its bid, the paper said.
Tata Group''s "financial exposure in the deal is estimated to be just over
$2 billion," it said.
the world''s largest confectionery company, is getting ready to separate its drinks
arm, which includes Dr Pepper, 7UP, Snapple and Hawaiian Punch.
have said at least two groups of private equity firms were bidding for the business
and a US trade publication recently reported Coca-Cola may be interested in buying
which sells flavoured teas, lemonades and juice drinks, was the third-largest
US bottled tea brand in the first quarter.
Goup company Tata Tea, the world''s second-largest branded tea firm, sold its 30-per
cent holding in vitaminwater maker Glaceau to Coca-Cola for about $1.2 billion
in May, nearly double what it paid last year for the stake.
senior company official said at that time it was looking for "a beverage
target in the US".
Tata Tea declined comment on the report.
Tea, which is looking to expand its non-tea portfolio, recently bought a controlling
stake in an Indian bottled
water brand, besides herbal and fruit tea brands in the United States and Eastern