Tata Global Beverages Ltd & Kerala Ayurveda Limited sign MOU to form JV for Product Development
Bangalore, January 28th 2011
We are pleased to announce that the Board of Tata Global Beverages Ltd approved a Memorandum of Understanding signed with Kerala Ayurveda Limited, with the intention of exploring the formation of a Joint Venture for focussing on development of a range of Beverage and Food products based on proven Ayurvedic recipes, actives and formulations for the Global market where there is world –wide recognition of the benefits of Ayurveda for good health and wellness. Definitive agreements are expected to be finalised over the next few months. The transaction will be subject to corporate and statutory approvals as may be required. The proposed joint venture is not intended to conflict with any existing arrangements of either party.
About Tata Global Beverages Limited
Tata Global Beverages Ltd is a global beverage business with interests in Beverages, Tea, and Coffee. The group’s annual turnover is US$1.5bn and it employs around 3,000 people in over 40 countries worldwide. The company focuses on ‘good for you’ beverages and has a stable of innovative regional and global beverage brands, including: Tata Tea, Tetley, Himalayan natural mineral water, Good Earth and Eight O’clock coffee.
About Kerala Ayurveda
Kerala Ayurveda was founded in Aluva, Kerala in 1945 by Late Vaidiyan KGK Panicker, the renowned Ayurvedacharya. Now, more than half a century later, his inspired creation epitomizes all that is modern and state-of-the-art in Ayurveda Kerala Ayurveda Limited has over 100 Ayurvedic doctors, graduates and post-graduate medical staff, with several years of experience under its network. Kerala Ayurveda Limited operates a chain of 30 treatment centers and clinics and 3 Ayurveda Hospitals located across India, and a wellness resort in Bangalore, “AyurvedaGram”. Through its subsidiaries in the United States, Kerala Ayurveda has a significant presence across 5 locations and offers a range of ayurvedic courses, treatments and healthcare services.
KAL has embarked on an exciting journey over the last 2 years to validate Ayurveda through a rigorous, scientific process based on US FDA norms. The research chain has dug deep into the ancient Ayurvedic texts, purity of ingredients, herbal chemistry and validation of claims through science.
Kerala Ayurveda’s subsidiary, AyurvedaGram Heritage Wellness Centre received the Best Practices Award from Frost & Sullivan in 2010 for the “Integrated Wellness Service Provider Company of the year 2010”. The award of “Integrated Wellness Service Provider Company of the year 2010” is a testimony of the company’s vision to furthering the acceptance of alternative medicine, like ayurveda, worldwide, by providing products and services that are authentic, pure and meet global standards.
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