Tata Consumer looking for more brands to acquire: Report

Tata Consumer Products Ltd, the FMCG arm of Tata Group, is looking to continue its growth through strategic acquisitions along with the organic growth of its existing brands. The company sells products like Tata Salt, Tata Tea and Tetley, pulses, spices and more under Tata Sampann, and ready-to-cook items. But despite the expansive catalogue of products, more acquisitions are a question of ‘when’ and not ‘if’. “We will do both (acquisitions and organic growth). It’s not an ‘or’, it’s an ‘and’. Ultimately, an acquisition has to meet various criteria, apart from the financial, which is easier. The brand has to matter, the distribution should be common. There has to be a very good reason that we are the owner," said Ajit Krishnakumar, Chief Operating Officer at TCPL, to Mint. Earlier in the year, TCPL was already in acquisition negotiations with around five FMCG brands. The company’s CEO Sunil D’Souza had indicated that inorganic growth was a significant part of the strategy for TCPL to become a leading player in the FMCG space. “We are reaching out to potential targets to have a chat to see if there is interest,” he told Bloomberg. Before that, the company had also bought up shares in companies like the bottled-water business NourishCo Beverages Ltd. and the cereal brand Soulfull. Krishnakumar stated that TCPL will go for acquisitions along the board. “ What we choose to go after and not go after, is a separate issue. We will eventually do things across the board. When and how is anybody’s guess," he said in an interview with Mint. Tata Consumer Product’s reorganisation comes as part of the broader streamlining of the biggest Indian conglomerate. TCPL was renamed from Tata Global Beverages and then combined with Tata Salt, Tata Tea, Tata Sampann and Tetley. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.