Indian company, Tata Consumer has announced the acquisition of PepsiCo’s stake in NourishCo Beverages for an undisclosed sum.
Created in 2010 by the two companies, NourishCo Beverages is a 50:50 joint venture, focused on the healthy hydration market in India.
According to sources, this deal allows Tata Consumer to widen its portfolio in the food and beverages space as well as strengthen its position on that Indian market.
Sunil D’Souza, managing director and CEO of Tata Consumer Products, said: “The liquid beverages category has exciting growth potential and this move will help us strengthen and widen our presence in it. Over the years, NourishCo has built a capable team and a network of distributors, co packers and vendors. We will look to scale up these capabilities further and build a differentiated position in this segment”.