Tata Close to Acquiring Two Tea Brands
Corporate conglomerate Tata Tea is close to acquiring two brands in North America in the range of $100 million each. Sources close to the development said the company has shortened their candidate list to a number of brands in the beverage industry, including flavored and herbal tea, with two deals reportedly very close. If closed, the takeovers would be part of the companys broad acquisition plan, eventually costing as much as $1 billion, surpassing its $475 million acquisition of Tetley five years ago.