Tata Tea reported to be acquiring Everest Mineral Water
01 Jun 2007
On
the heels of a its $1.2-billion divestment of its After
making a killing by selling 30-per cent stake in US vitamin
water maker Glaceau to Coca Cola, Tata Tea is believed
have evinced an interest in buying the maker of the Himalayan
natural spring water brand, Everest Mineral Water Ltd.
The group made a one-time profit of $523 million from selling its 30-per cent stake in Glaceau
The
two companies are said to be in advanced negotiations.
Incidentally the Tata Tea board is meeting today.
Dadi Balsara who promoted Mount Everest Mineral Water in 1991, later sold it to investors. The company, which is located in the Himalayan region, has one of the largest natural mineral water plants in Asia.
Himalayan is among the brands exported to the US and sold to supermarkets like MARSH and pharmacies in the US.
The
company has a distribution and marketing alliance to sell
energy drink Power Horse in India.