Tata Consumer Products Limited, a company of the Tata group, is preparing for strong shopping. Actually, Tata Consumer is in discussion to buy five brands. Through this, the company wants to strengthen its position in the consumer goods sector.
This information has been given in a Bloomberg report. According to the report, Sunil D’Souza, CEO, Tata Consumer Products, said that the company sells Tetley tea and Eight O’Clock coffee and is now seriously looking to tie up with several companies. However, D’Souza did not give details of the brands that it is planning to buy.
Let us tell you that Tata Consumer Products was formed in 2020. It has expanded its portfolio by buying stakes in companies such as bottled water company NourishCo Beverages and cereal brand Soulfull.
There will be competition with Reliance: With the new move by Tata Consumer Products, the group could face stiff competition from Mukesh Ambani’s Reliance Retail as well as global giant Unilever. Reliance may acquire dozens of small grocery and non-food brands in the coming days. Reliance’s target is $6.5 billion in consumer goods business.
Expansion in difficult times: Tata’s new expansion plans come at a time when companies are facing difficulties due to severe global inflation. The war in Ukraine, restrictions on exports of national agricultural commodities and supply chain problems have raised input costs.