Tata plans Tetley stake sale to fund international acquisitions
India's Tata Global Beverages, owner of Tetley Tea, is attempting to sell a minority stake in the tea company in order to fund an international acquisition spree. The parent company is in talks with several private equity firms, including Advent International and Blackstone, but the transaction is not expected to be completed anytime soon. Tata Global Beverages is a major international player, with large market shares in countries such as Australia, Britain, Poland and the US. It has recently announced plans to acquire companies in eastern Europe and the US which would expand its share of the tea market as well as diversify its portfolio of products.