Tata Consumer Products in South Africa

Tata Consumer Products Increases Stake in South African Tea Company Joekels

Johannesburg, South Africa – January 6, 2023

Tata Consumer Products Ltd (TCPL), the FMCG arm of the Tata Group, has expanded its presence in the South African market by acquiring an additional 23.3% stake in Joekels Tea Packers, a leading tea company in the region. This strategic move increases TCPL’s holding in Joekels from 51.7% to 75%, enhancing its footprint in the growing South African tea industry. (foodbusinessmea.com)

The acquisition, valued at approximately ₹43.65 crore (US$5.28 million), was executed through Tata Consumer Products Overseas Holdings Ltd, a wholly-owned subsidiary of Tata Consumer Products UK Group. The transaction was finalized in December 2022, with the remaining 25% stake retained by Joekels’ joint venture partners. (business-standard.com)

Joekels Tea Packers, established over 25 years ago, is renowned for its diverse portfolio, including seven esteemed brands. Notably, Laager Rooibos has become the world’s second-largest Rooibos brand, and Tetley Green Tea emerged as the leading green tea in the South African market just six months after its 2017 launch. (foodbusinessmea.com)

This acquisition aligns with Tata Consumer Products’ strategic objectives to strengthen its international presence and capitalize on the expanding tea market in South Africa. The company continues to focus on innovation and market expansion to drive growth in the region.

For more information, please refer to the official announcement by Tata Consumer Products Ltd. (business-standard.com)

Note: The above information is based on reports available as of January 6, 2023.