TGBL renamed as Tata Consumer Ltd, to spearhead FMCG ambitions
Tata Global Beverages Ltd has been renamed as Tata Consumer Products Ltd to spearhead FMCG ambitions of the USD 113 billion Tata group.
Two Tata group firms -- Tata Global Beverages Limited (TGBL) and Tata Chemicals Limited (TCL) on Monday announced that the scheme of arrangement between them regarding the Consumer Products Business of TCL is now "operational" effective from February 7, 2020.
"Following this, TGBL has been renamed 'Tata Consumer Products Limited'," the statement said.
Formation of Tata Consumer Products Limited (TCPL) "marks a new strategic direction, an accelerated expansion into India's FMCG market" said TGBL adding that it would "meet evolving consumer needs across the food and beverages spectrum".
TCL would have iconic brands, including Tata Tea and Tata Salt, reaching over 200 million households.
"This deep distribution architecture will also be supported by the Tata Group's brand building prowess. The company intends to further build on the strong platform ...