IndiaÆs Tata Tea has announced it is acquiring 30% of Energy Brands Inc, USA for $677 million from private equity firm, TSG Consumer Partners. This is the largest cross-border acquisition by an Indian private sector company to date. Tata Tea will acquire the stake alongwith its promoter, Tata Sons. Of the $677 million Tata Tea will invest $192 million, Tata Sons $58 million and the balance will be raised as debt by Tata Tea GB the investment vehicle for all overseas acquisitions of Tata Tea, including Tetley.
Energy Brands was formed in 1996 and introduced its main brand, the Glaceau brand of enhanced water beverages in 2000. Glaceau has 3 main product lines -...
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