Tata Consumer Products, a major FMCG player, has completed the merger of three wholly-owned subsidiaries. The merger received approval from the National Company Law Tribunal (NCLT) and other regulatory authorities.
The subsidiaries involved are Tata Consumer Soulfull Pvt. Ltd., NourishCo Beverages Ltd., and Tata SmartFoodz Ltd. TCPL announced that it has fulfilled all conditions outlined under Clause 17 of the merger scheme, including the filing of certified copies of the order with the Registrar of Companies in Form INC-28.
The effective date of the merger is September 1, 2024.
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“We wish to inform you that the conditions outlined under Clause 17 of the Scheme, including the filing of certified copies of the order with the Registrar of Companies, of the respective companies, in Form INC-28, have been duly completed,” the company said in a regulatory filing.
This consolidation is part of our effort to simplify and streamline the business. The merger will unlock efficiencies and synergies, the company added.
Despite the merger, there will be no changes to the operating structure of these business units. They will continue to focus on their specific product portfolios: millet-based products, ready-to-drink products, and ready-to-cook/ready-to-eat products. These areas are key growth sectors for Tata Consumer Products.
The company’s portfolio features prominent brands such as Tata Tea, Tetley, Organic India, Eight O’Clock Coffee, Tata Coffee Grand, Himalayan Natural Mineral Water, Tata Copper+, and Tata Gluco+. The consolidated turnover stands at Rs 15,206 crore.
From: financialexpress
Financial News
