This merger aligns with the TCPL’s strategy to simplify and streamline its business operations
TCPL clarified that the operating structure for these business units will remain unchanged
They will continue to focus on their respective product portfolios, including millet-based products, ready-to-drink products and ready-to-cook/ ready-to-eat products
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Major FMCG player Tata Consumer Products Ltd (TCPL) has completed merger of its three wholly-owned subsidiaries, including Tata Consumer Soulfull Pvt Ltd, NourishCo Beverages Ltd and Tata SmartFoodz Ltd after receiving approval from the National Company Law Tribunal (NCLT) and other regulatory clearances.
“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 is September 1, 2024,” TCPL said in a regulatory filing.
This merger aligns with the TCPL’s strategy to simplify and streamline its business operations. The consolidation of the legal entity structure is expected to unlock the efficiencies and synergies within the company, the filing added.
However, TCPL clarified that the operating structure for these business units will remain unchanged, and they will continue to focus on their respective product portfolios, including millet-based products, ready-to-drink products and ready-to-cook/ ready-to-eat products.
These product portfolios are considered growth areas for Tata Consumer Products.
Tata Consumer Soulfull Pvt Ltd is a healthy packaged foods brand and boasts a portfolio of products ranging from cereals, healthy snacks and muesli to plant-based protein drinks, on the other hand, NourishCo Beverages aims to offer hydration solutions in non-carbonated and ready-to-drink beverages segments.
Meanwhile, Tata SmartFoodz Limited manufactures and sells ready-to-eat food products, including pasta, noodles, biryani and combo meals.
With this merger, TCPL will have a diverse range of products which include tea, coffee, water, RTD, salt, pulses, spices, ready-to-cook and ready-to-eat offerings, among others.
The company owns several key beverage brands like Tata Tea, Tetley, Organic India, Eight O’Clock Coffee, Tata Coffee Grand, Himalayan Natural Mineral Water, Tata Copper+ and Tata Gluco+.
In January, TCPL reportedly signed definitive agreements to pick up 100% stake in Capital Foods, owner of the brands Ching’s Secret and Smith & Jones and Organic India, as part of its plans to expand and tap into new FMCG verticals.
TCPL logged a 14.34% decline in its consolidated net profit to INR 289.25 Cr in the first quarter that ended June 30, 2024, as against the net profit of INR 337.71 Cr in the same period a year ago.
The company’s revenue from operations increased 16.3% to INR 4,352.07 Cr in Q1 FY25 as compared to INR 3,741.21 Cr in the year-ago period.
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