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Tata Global Beverages Ltd has announced that the company's overseas subsidiary based in UK has acquired a 100 per cent stake in the equity capital of Bronski Eleven Pty Ltd, Australia.
Bronski Eleven is engaged in coffee business under the MAP brand, with presence in the R&G coffee and coffee in Pods (single service portions) segments in Australia.
A company release to exchanges said the investment is in line with the company's strategic vision to become a leader in the ‘good for you’ beverage segment in Australia and it also helps Tata Global Beverages to expand its portfolio to include high growth contemporary single serve business.
On the BSE, the Tata Global Beverages stock was up 1.9 per cent or Rs 2.75 at Rs 147.40 at 11.45 am.
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