pepsico

New Delhi: 9th April 2010: We are pleased to announce that PepsiCo and Tata Tea Limited have today signed a non binding Memorandum of Understanding, with the intention of exploring the formation of a joint venture in the area of non-carbonated ready-to-drink beverages, focused on health and enhanced wellness. More details will only be available once the definitive agreements for the joint venture are finalized and executed, which is expected to be done over the next few months. The transaction will be subject to corporate and statutory approvals as may be required. The proposed joint venture is not intended to conflict with any existing arrangements of either party.
About Tata Tea Limited
Tata Tea is a leading player in the global beverages market with significant presence in over 40 countries. The company has steadily transformed itself from being a plantation business to emerge as a key player in the branded segment. Tata Tea’s operations spans the entire value-chain in tea, including research and development, tea cultivation, manufacture of black and instant tea, blending, packaging, branding, marketing, sales and distribution. India is a large market for the Tata Tea group and one in which Tata Tea has volume leadership. India is expected to continue to drive future growth for the company. Tata Tea has begun its journey of transformation into the ‘good for you’ liquid beverages company with the launch of Himalayan, natural mineral water and T!ON an active refreshing drink made from fruit juice, tea extracts and ginseng.
About PepsiCo
PepsiCo entered India in 1989 and has grown to become the country’s largest selling food and beverage business. The group has built an expansive beverage, snack food and exports business and to support the operations are the group’s 41 beverage bottling plants in India and 3 Foods plants. PepsiCo offers a large and diverse portfolio of food and beverage products, including 19 different brands that generate more than $1 billion in annual sales each. PepsiCo’s businesses – Frito-Lay, Quaker, Pepsi-Cola, Tropicana and Gatorade – also make hundreds of other nourishing, tasty foods and drinks that bring joy to our consumers in over 200 countries and generate close to $60 billion revenues. PepsiCo’s business is based on its unique commitment to sustainable growth, called “Performance with Purpose”.
                 
                                                 Please visit www.PepsiCo.com