Tata Consumer Products divests its stake in JVs Empirical Group and Southern Tea

Tata Consumer Products announced that the overseas step-down subsidiaries of TCPL in the USA have entered into an arrangement for the sale of its entire membership interest held in Empirical Group LLC (Empirical) and in Southern Tea, LLC (Southern Tea) to its Joint Venture Partner - Harris Tea Company LLC on 31 March 2021.

Empirical is engaged in the sale of tea and coffee for food services and contract customers and Southern Tea is a manufacturing entity managed by Harris Tea Company LLC, JV partner.

This move is in line with TCPL's focus on its core branded businesses in International markets. It will help further simplify and streamline the Company's operations to enhance business effectiveness and profitability. Following this transaction, Southern Tea will continue to manufacture for Tetley and Good Earth brands.

 

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