Indian Tea Giant Sets Up Shop in Russia
Russian women and men who are tea drinkers will be happy to hear that one of the largest tea companies in the world, India’s Tata Tea Ltd., is setting up a company in Russia as part of a joint venture. The company is already expanding by purchasing herb and fruit tea brands in the US and Eastern Europe, while starting a 70 percent owned joint tea venture in China.
A spokesman for the tea company says that thy plan on looking at both tea and coffee opportunities in Russia and the surround area. They plan to try to set up the business by the end of the current fiscal year, which ends in March.
Tata Tea owns the Tetley brand and has recently purchased a stake in Mount Everest Mineral Water Ltd., also an Indian company. Tata sold its 30 percent stake in Energy Brands, Inc. to Coca-Cola Co. for $1.2 billion to finance the deal, which it hopes will help the company diversify outside of the coffee and tea market.
For Russia, it means there will be more consumer options for coffee and tea in the next year or so and perhaps an opportunity for Russian business to get into the beverage industry.
