Tata Global Beverages to add health drinks to its portfolio
23 Aug 2010
Tata Global Beverages Ltd (TGB), formerly Tata Tea, plans to add foods and fortified health drinks to its bouquet of offerings that currently includes tea and non-carbonated drinks.
Company chairman Ratan Tata told TGB shareholders that he continued to remain optimistic of continued growth from the core tea business, with health and wellness space expected to register substantial growth.
He added the company, which had thus far operated in the businesses of tea, non-tea non-carbonated beverages and mineral water, was planning to venture into foods and fortified health drinks.
In April this year TGB announced a tie-up with PepsiCo and is expected to explore possibility of establishing a joint venture for global distribution of its products as it looks to achieving a revenue of $5 billion by 2015.
"The present revenue of the company is $1.5 billion. The target is to take it to $ 5 billion in the next five years," company Tata told shareholders at the company's 47th AGM in Kolkata today.
Tata said the company would build up operational scales in US and Russia. He added the company would stay away from unhealthy beverages that were harmful to health.