Tata Consumer Products in discussions to buy up to five brands
Tata, which has a joint venture with the US coffee behemoth, wants to have more than 1,000 Starbucks outlets in India
Tata Consumer Products Ltd., the food and beverage arm of the $103 billion Indian conglomerate, wants to go on an acquisition spree to bolster its position in the country's competitive consumer goods sector, and is in discussions to buy up to five brands.
Since its formation in 2020 during an ongoing streamlining of Tata's 153-year-old business empire, which operates across dozens of sectors, Tata Consumer Products has widened its portfolio by buying stakes in companies such as bottled-water business NourishCo Beverages Ltd., as well as cereal brand Soulfull.
The conglomerate will likely face stiff competition in the sector from existing global giants such as Unilever, as well as Indian tycoon Mukesh Ambani's Reliance Industries Ltd., which plans to acquire up to 60 small grocery and household consumer goods brands within six months, according to Reuters.
As India reopens after the pandemic-led curbs, D'Souza is also accelerating the expansion of Starbucks Corp. outlets across the country. It added 50 new cafes in the last financial year, taking its presence to 268 stores in 26 cities.
Tata, which has a joint venture with the US coffee behemoth, wants to have more than 1,000 Starbucks outlets in India, D'Souza said, declining to give a timeline for that target.
