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Article: TATA TEA SUBSIDIARY ACQUIRES CZECH COMPANY
- Article from:
- The Hindustan Times
- Article date:
- May 2, 2006
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MUMBAI, India, May 2 -- The Bombay Stock Exchange Limited (BSE) made the following corporate announcement:
Tata Tea Ltd., has informed BSE that the company's subsidiary, Tata Tea (GB) Ltd, UK has signed a definitive agreement to acquire the assets of market leading tea company in the Czech Republic, JEMCA, from food processing company, Alima Znackova Potravina, a.s. The acquisition has been funded by The Tetley Group.
JEMCA has 26.6% volume share of the tea market in the Czech Republic* and turnover of 300 million Czech Koruna (around US$ 12.5 million).
JEMCA will continue to pack teas at its production facility in Jemnice, Czech Republic and continue ...