FDBusiness.com

Tata Global Beverages of India, which owns the UK-based Tetley Tea business, is planning to move into food via acquisitions. The beverages group is reported to be considering raising funds for acquisitions by selling a stake to private equity investors, and has already approached Blackstone and Advent International.

Following the recent integration of its five beverage businesses, Tata Global Beverages is aiming to build a strong global Tata brand as it continues its transformation from being a tea and coffee commodity business to become a world leader in ‘good for you’ beverages. About 70% of the group’s sales are generated outside of India.