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Article: Tata Tea to acquire Czech JEMCA
- Article from:
- The Hindustan Times
- Article date:
- May 2, 2006
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Mumbai, May 2 -- Tata Tea Ltd, an arm of India's diversified business conglomerate Tata Group, said Tuesday it had signed an agreement to acquire Czech Republic's leading tea company JEMCA.
The acquisition of JEMCA from food processing company Alima Znackova Potravina was funded by Tata-owned Tetley Group, said a statement issued by Tata Tea.
JEMCA has 26.6 percent market share of the tea market in the Czech Republic and turnover of around $12.5 million, added the statement.
Post acquisition, JEMCA will continue to pack teas ...