The company’s statement came regarding the deal between Tata and Haldiram, gave a surprising update
[ad_1]
When contacted, Haldiram’s management refused to comment in this regard. TCPL sells products such as Tata Salt, Tata Tea, Tetley, Tata Coffee, Tata Soulful. The company is expanding into the food and beverage sector.
The Tata Group has denied reports of buying 51 per cent stake in food company Haldiram, calling it mere rumour. Tata Consumer Products Limited (TCPL) has clarified that it is not in talks to buy 51 per cent stake in ‘Haldiram’.
Tata has made it clear that all such news related to purchases are false. The company said that nothing is happening in this direction. Let us tell you that according to some reports, the FMCG (household items of daily use) unit of Tata group is in talks with Haldiram to buy 51 percent stake in it. But now Tata has denied it.
It was claimed in the news that Tata was in talks to buy 51 per cent stake in domestic food company Haldiram’s. It was also said that Haldiram has disagreed on the valuation of $10 billion for the deal. However, reports say that things are yet to materialize due to the high venture price. Haldiram’s is a leading company in the snacks, namkeen as well as restaurant sector. “The company is not in talks to acquire Haldiram, as is being reported in the news,” TCPL told the stock exchange.
This clarification from the company has been given after NSE and BSE sought answers after these reports came out. A company spokesperson said on Wednesday, “Tata Consumer Products does not comment on speculation in the market.” When contacted, Haldiram’s management refused to comment in this regard. TCPL sells products such as Tata Salt, Tata Tea, Tetley, Tata Coffee, Tata Soulful. The company is expanding into the food and beverage sector.
Please tell that Haldiram Company was started in the year 1937. The company started with its Bhujia which has been a popular product over the years. Haldiram’s competes with a great company like PepsiCo. Currently, Haldiram’s portfolio is quite diversified. Apart from packaged products, the company now also runs several restaurants which are located in many cities of the country. The company currently operates 150 restaurants across the country.
[ad_2]
Source link
