It also obtained the approval of the National Company Law Tribunal for the Scheme of Merger between Tata Consumer Soulfull, NourishCo Beverages, and Tata SmartFoodz with TCPL being the resulting company by way of amalgamation of the three companies with it. This marks another step in the company’s continued thrust towards simplification and greater business realignment. The streamlining of the structure of the legal entity will unlock numerous efficiencies and their associated synergies.
The operating structure of these businesses would not see any change and would continue to focus on the following portfolios: Millet-based products, Ready to Drink products, and Ready to Cook/Ready to Eat products. These product portfolios form part of the growth businesses of Tata Consumer Products.
Sunil D’Souza, MD and CEO of Tata Consumer Products, said, “We have been reorganising our business in line with our strategic priorities-to unlock synergies and create a future ready organisation. This merger is one more step towards building a simplified and agile business. It will enable administrative and financial synergies. Retention of the existing business operating structure will carry on continuity and ensure these businesses stay focused on the growth agenda.”
