Biznextindia : Tata Consumer Products on Monday said that it has decided to divest its MAP Out of Home coffee business in Australia to Buccheri Group Pty Ltd. This divestment does not impact Tata Consumer Products’ existing branded tea business in Australia.
The shares of the company (TATACONSUM) are trading at 565.50 (up 0.30%) on the BSE at 11 am Monday.
Buccheri Group a Boutique Coffee manufacturer established in Australia in 2007, and led by Santo Buccheri and his family.
“This move is consistent with our focus on consolidating our businesses and enhancing profitability and business effectiveness. This will also help bring greater focus to our core branded tea and coffee businesses in International markets” Tata Consumer Products said in a market filing.
“In line with our strategy of driving structural simplification and focusing on core businesses where we see profitable growth, we have exited the out of home coffee business in Australia. While it was a small part of our overall business, the divestment will help us further consolidate our International footprint and better focus on our core brands” Sunil D’Souza, Managing Director & Chief Executive Officer, Tata Consumer Products Limited said.