Tata Tea to acquire Czech based JEMCA

Tata Tea to acquire Czech based JEMCA

Tata Tea Ltd has said in a statement that they would be acquiring assets of JEMCA; a tea company in Czech Republic through their UK based division.

The company’s UK based firm Tata Tea (GB) Ltd has already signed a definitive agreement to acquire the assets of JEMCA. They are acquiring their assets from the parent company Alima Znackova Potravina.

Tata Tea updated the Indian stock exchanges with this latest business deals. This deal was funded through their previously acquired Tetley Group.

Mr. Percy Siganporia, Managing Director, Tata Tea added in a statement that the deal would see them acquiring 100% stake in the company thought the cost of this transaction was not disclosed.

This deal would result in Tata Tea making an entry into the Czech Republic market.