Tata Consumer Products said on Monday it has decided to divest its MAP Coffee business in Australia to Buccheri Group Pty Ltd, a boutique coffee manufacturer established in Australia during 2007 and led by Santo Buccheri family.
It said this divestment does not impact Tata Consumer Products' existing branded tea business in Australia. The move is consistent with our focus on consolidating our businesses and enhancing profitability and business effectiveness.
This will also help bring greater focus to our core branded tea and coffee businesses in international markets.
"In line with our strategy of driving structural simplification and focusing on core businesses where we see profitable growth, we have exited the out of home coffee business in Australia," said Managing Director and CEO Sunil D'Souza.
"While it was a small part of our overall business, the divestment will help us further consolidate our international footprint and better focus on our core brands," he said in a statement.
The company's portfolio of products includes tea, coffee, water, salt, pulses, spices and ready-to-cook offerings. Tata Consumer Products is the second largest branded tea company in the world. Its key beverage brands include Tata Tea, Tetley, Eight O'Clock Coffee, Tata Coffee Grand and Himalayan Natural Mineral Water.
Its foods portfolio includes brands such as Tata Salt and Tata Sampann. In India, Tata Consumer Products has a reach of over 200 million households, an annual turnover of Rs 10,000 crore and employs 2,200-plus people in its branded business workforce.
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor