Kolkata, Aug 23 (IANS) Tata Global Beverages (TGB), previously known as Tata Tea, may diversify into food business, Tata group chairman Ratan Tata said here Monday.
‘Change in name (has been) done to reflect change in business of the company, which going forward would be more and more beverages and eventually and possibly into food,’ Tata said while addressing shareholders at the company’s Annual General Meeting.
The company is looking at a $5 billion sales revenue and 15 percent Earnings Before Interest and Tax (BIT) by 2015, TGB’s chief executive officer Peter Unsworth said.
The company is looking at growing in the core tea market in the ongoing financial year (2010-11) and build scale in the US and Russia. It is also planning to expand across beverage categories in India.
Tata said: ‘We will continue to invest in innovation of new products. There will be wide innovative products in the beverage company and we will focus on wellness and good health products.’
He said the company will make its delivery channels robust to cater to customers in a better way.
