India’s Tata Consumer Products, formerly Tata Global Beverages, is planning to acquire PepsiCo’s stake in NourishCo Beverages, a joint venture firm between the two companies.

Financial details of the deal are yet to be divulged by either company.

Tata Consumer Products managing director and CEO Sunil D’Souza said: “The liquid beverages category has exciting growth potential and this move will help us strengthen and widen our presence in it.

“Over the years, NourishCo has built a capable team and a network of distributors, co-packers and vendors. We will look to scale up these capabilities further and build a differentiated position in this segment.”

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The acquisition is said to be in line with Tata Consumer’s strategy to expand its presence in the food and beverage segment.

NourishCo offers a wide range of beverages in the market under various brands such as Himalayan mineral water, Tata Gluco Plus and Tata Water Plus.

Tata Consumer Products said: “These brands have been crafting their growth models which are now ready for deployment on a wider scale.

“Tata Consumer Products intends to use its resources, the capabilities acquired and the brands it now has to give wings to its ambition in the value-added liquid refreshment beverages space in India.”

Last May, GEA built a freeze-dried instant coffee plant for Tata Coffee Vietnam Company.

Built on a greenfield site in the Binh Duong Province, the Vietnam plant can produce 5,000tn of freeze-dried coffee annually.

GEA supplied a complete production line for the project, from roast bean treatment equipment to machines for the packing of the freeze-dried powder.