The name of Tata Tea Ltd (TTL) is to be changed to Tata Global Beverages Ltd. The board of directors of TTL has approved the name change. Shareholders' nod would be sought by way of postal ballot in accordance with the relevant provisions of the Companies Act.
The company said that following the name change, Tata Tea, Tetley, Eight O'Clock Coffee and other company names will change into one corporate name: Tata Global Beverages Limited.
In line with the operational integration of five beverage businesses of the company, announced last year, Tata Global Beverages will unite all the beverage interests marking another step in its transformation to become a global leader in ‘good for you' beverages. Current brand names will remain for its products.
Commenting on the announcement R. Krishna Kumar TTL vice chairman said: “Today's announcement clearly demonstrates the group's pride in its Tata parentage and heritage, as well as its intention to build a new and strong global Tata brand.”
This signals an important milestone in the evolution of the beverage business of the company, where 70 per cent of the current consolidated revenues come from outside India.
The new name reflects the company's ambition to be global and its successful transition from being a tea and coffee commodity business to one focussed on delighting consumers across the world with great-tasting branded beverages. Importantly, it sets out the strategic intent of the company for the coming years.
