Tata Global Beverages and PepsiCo India have joined hands to make a foray into nutritious beverages space.
The two have already floated a new company by the name and style of NourishCo.
The joint venture rolled out its first product, Tata Water Plus, on Thursday here at a press conference. Claimed to be the country's first nutrient water, Tata Water Plus is priced at Rs.16 for a 750 ml Pet bottle. Both will have equal holding in the joint venture with equal board representation. The joint venture will have an equity component of Rs.50 crore.
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NourishCo will use PepsiCo's distribution strength and the research and development capabilities of both the parents.
Tata Water Plus is launched first in Tamil Nadu. Initially, NourishCo will cover 20 towns in the State. Developed in tandem with global scientists and Indian nutrient experts, Tata Water Plus will soon be taken to markets across the country.
“It is taste neutral. It looks and tastes like normal water but with added goodness of nutrients that are bio-available,” says a release. Initially, Tata Water Plus will be available in two variants — zinc and chromium. These two elements are known to strengthen immunity and improve overall health, the release adds.
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Addressing a press conference, R. K. Krishna Kumar, Vice-Chairman, Tata Global Beverages, said NourishCo would focus on enhancing the hydration category in India. Besides Tata Water Plus, the NourishCo portfolio will include Tata Gluco Plus, a glucose-based lemon-flavoured drink in a unique cup format, and Himalayan Natural.
Mr. Krishna Kumar said the company would outsource the manufacturing of Tata Water Plus to a local bottler in Chennai. The distribution of Tata Water Plus would, however, be handled by PepsiCo. Tata Water Plus was developed by the Tatas, he said.
Tata Gluco Plus, however, was developed by PepsiCo, he added. Manu Anand, Chairman, PepsiCo, India Region, said his company believed in “performance with purpose.” The product was in tune with this philosophy, he added. He felt that Tata Water Plus was not just a game changing product but a commitment from the two organisations to ‘improve peoples' quality of life”.
Ashok Namboodiri, Chief of Sales and Marketing, NourishCo Beverages Ltd., said the company had also soft-launched its energy drink — Tata Gluco Plus. It would be priced at Rs.6 for a 200 ml cup. It had also brought the top-end natural mineral water brand Himalayan (priced at Rs.40 a litre) into the NourishCo fold.