Tatas & PepsiCo sign JV for Healthy Beverages
New Delhi: 28th October 2010
We are pleased to announce that PepsiCo and Tata Global Beverages Limited have today signed a Joint Venture Agreement in the area of non-carbonated ready-to-drink beverages, focused on health and enhanced wellness. Both companies will hold 50% in the JV Company. Post approval by Tata Global Beverages Board today, the JV agreement was signed by Mr Saad Abdul-Latif, CEO Asia, Middle East and Africa (AMEA) Division Pepsico Inc. and Mr. R K Krishna Kumar Vice Chairman Tata Global Beverages Ltd. Mr Sanjeev Chadha, Chairman and CEO PepsiCo India, was also present at the signing.
The vision of the JV will be to develop the business in India and internationally focussing on health and wellness beverage products.
About Tata Global Beverages Limited
Tata Global Beverages is a global beverage business and the world’s second largest tea company. 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 PepsiCo India
PepsiCo entered India in 1989 and has grown to become the country’s largest food and beverage business. One of the largest multinational investors in the country with an investment of over $1 billion, PepsiCo India has built an expansive beverage and snack food business supported by 36 beverage bottling plants, (13 company & 23 franchisee owned) and 3 food plants. Our state-of-the-art manufacturing plants produce a range of products from treats to healthy eats that deliver joy as well as nutrition to the consumers. PepsiCo India’s extensive portfolio includes iconic brands like Pepsi, Lay’s, Kurkure, Tropicana 100%, Gatorade, Quaker and young but immensely popular and fast growing brands such as Nimbooz and Aliva.
PepsiCo India's employees are driven by the company’s global commitment to sustainable growth, Performance with Purpose (PWP), which works on four planks of replenishing water, partnering with farmers, waste to wealth and healthy kids. In 2009, PepsiCo India achieved a significant milestone, by becoming the first business in the PepsiCo global system to achieve ‘Positive Water Balance’ (PWB), a fact validated by Deloitte Consulting. For more details on PWB and PWP, please visit http://www.pepsicoindia.co.in/CSR/replenishingwater.aspx
About PepsiCo
PepsiCo offers the world's largest portfolio of billion-dollar food and beverage brands, including 19 different product lines that each generates more than $1 billion in annual retail sales. Our main businesses - Frito-Lay, Quaker, Pepsi-Cola, Tropicana and Gatorade - also make hundreds of other nourishing, tasty foods and drinks that bring joy to our consumers in more than 200 countries. With annualized revenues of nearly $60 billion, PepsiCo's people are united by our unique commitment to sustainable growth, called Performance with Purpose. By dedicating ourselves to offering a broad array of choices for healthy, convenient and fun nourishment, reducing our environmental impact, and fostering a diverse and inclusive workplace culture, PepsiCo balances strong financial returns with giving back to our communities worldwide. In recognition of its continued sustainability efforts, PepsiCo was named for the third time to the Dow Jones Sustainability World Index (DJSI World) and for the fourth time to the Dow Jones Sustainability North America Index (DJSI North America) in 2009. For more information, please visit www.pepsico.com
For Further Information Contact:
For Tata Global Beverages India
Satya Muniasamy
Corporate Communication, Tata Global Beverages
Email: satya.muniasamy@tatatea.co.in
Mobile: 09008422544
Madhavi Banerjeep
Vaishnavi Corporate Communications
Email: Madhavi.Banerjee@vccpl.com
Mobile: 09686450031
For Further Information Contact:
For PepsiCo India
Pradeep Wadhwa
Head Corporate Communications, PepsiCo India
Email: Pradeep.wadhwa@pepsico.com
Mobile: 09810266667
Divya Bakhshi
Genesis Burson-Marsteller
Email: divya.bakhshi@bm.com
Mobile: 09899888643