With its sights set on building a strong global brand, Tata Tea Limited on Thursday said that it has decided to change its name to Tata Global Beverages Limited.
The company's board of directors has approved the decision, a statement issued said. The Tata Tea, Tetley, Eight O' Clock Coffee and other brands will figure under one corporate name -- Tata Global Beverages Limited -- subject to the approval of shareholders and the Central Government.
The approval of shareholders is proposed to be sought by way of postal ballot in accordance with the provisions of Section 192 A of the Companies Act, 1956, the statement said.
Following the operational integration of its five beverage businesses announced last year, Tata Global Beverages Limited will unite all these interests, marking another step toward becoming a global leader in 'good for you' drinks.
However, the individual brand names will remain, it said. The new name reflects Tata Tea's ambition to become a global entity, the statement said, adding that it also declares its strategic intent for the company in the coming years.
"Today's announcement clearly reflects the pride the group takes in its Tata parentage and heritage, besides its intention
to build a strong, new global brand," Tata Tea vice-chairman R Krishna Kumar said.
