Three wholly-owned subsidiaries in India will be merged with Tata Consumer Products Limited
Tata Consumer Products Limited (TCPL) has received approval from the NCLT (National Company Law Tribunal) for the merger of its wholly owned subsidiaries- Tata Consumer Soulfull Pvt Ltd., NourishCo Beverages Ltd. and Tata SmartFoodz Ltd. with TCPL. 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.
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.
Sunil D’Souza, MD & CEO, of Tata Consumer Products Limited, said ‘We have been reorganising our business in line with our strategic priorities- to unlock synergies and create a future-ready organisation. This merger is one more step towards building a simplified and agile business. It will enable administrative and financial synergies. Retaining the existing business operating structure will provide continuity and ensure these businesses stay focused on the growth agenda.”