FMCG maker Tata Consumer Products Ltd (TCPL) has merged its three wholly-owned subsidiaries after getting approval from NCLT and other regulatory clearances.
TCPL has merged its wholly-owned subsidiaries Tata Consumer Soulfull Pvt Ltd, NourishCo Beverages Ltd, and Tata SmartFoodz Ltd with the company, according to a statement from Tata Group FMCG arm.
FMCG maker Tata Consumer Products Ltd (TCPL) has merged its three wholly-owned subsidiaries after getting approval from NCLT and other regulatory clearances.
TCPL has merged its wholly-owned subsidiaries Tata Consumer Soulfull Pvt Ltd, NourishCo Beverages Ltd, and Tata SmartFoodz Ltd with the company, according to a statement from Tata Group FMCG arm.
"We wish to inform you that the conditions outlined under Clause 17 of the Scheme, including the filing of certified copies of the order with the Registrar of Companies, of the respective companies, in Form INC-28, have been duly completed. Accordingly, in terms of the Scheme, the effective date of the scheme (of merger) is September 1, 2024," the company said in a regulatory filing.
This is in line with the company's focus on simplifying and streamlining the business. This consolidation of legal entity structure will unlock efficiencies and synergies, it added.
"There is no change in the operating structure for these business units and they will continue to stay focused on the following portfolios - millet based products, ready-to-drink products and ready-to-cook/ ready-to-eat products. These product portfolios are part of the growth businesses for Tata Consumer Products," it said.
TCPL's portfolio of products includes tea, coffee, water, RTD, salt, pulses, spices, ready-to-cook and ready-to-eat offerings, breakfast cereals, snacks and mini meals.
The company which has a consolidated turnover of Rs 15,206 crore owns key beverage brands including Tata Tea, Tetley, Organic India, Eight O'Clock Coffee, Tata Coffee Grand, Himalayan Natural Mineral Water, Tata Copper+ and Tata Gluco+.