New Delhi: Tata Tea has been buzzing in anticipation that the company will announce another overseas acquisition. According to sources, the company is targeting a firm called Jacksons of Piccadilly of US.
The company has already gone on record by saying that it is looking for acquisitions and it will buyout more specialty brands in the overseas market.
According to reliable sources, the company is targeting a firm called Jacksons of Piccadilly of US. The financials of that company are not known at this point of time.
However, as per sources, Jacksons is one of the best tea lines in US, and it exports tea to nearly 25-26 countries all over the world. The deal size is not known as of now.
There was another buzz that a company called Whittard of Chelsea was possibly a target for Tata Tea. However, Whittard of Chelsea has already signed a deal with Java Acquisitions on December 16.
Therefore, that deal has been closed for Tata Tea now, since the offer has already been taken up by Java Acquisitions. Hence, Whittard cannot be a possible acquisition target for Tata Tea now.
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