Tata Consumer Products Expands Stake in South African Tea Company Joekels

Date:

Tata Consumer Products UK Group has announced the acquisition of a 23.3% stake in South African tea company, Joekels Tea Packers, for $5.28m. The acquisition, made through Tata Consumer Products’ step-down subsidiary, Tata Consumer Products Overseas Holding Ltd, will increase the company’s holding in Joekels from 51.7% to 75% of the equity share capital. The remaining 25% stake is held by the joint venture partners.

Joekels Tea Packers is a subsidiary of Tata Consumer Products and is the largest packer of Private Label teas in South Africa, including the Tetley and Tea4Kidz brands. Over the past 25 years, the company has established seven renowned brands and has won a number of awards. Its Laager Rooibos brand has become the second largest Rooibos (red tea/redbush tea) brand in the world. Tetley has also made significant inroads in the South African market, with its Tetley Green tea becoming the leading Green tea in the local market just six months after its launch in 2017. Joekels operates five factories in South Africa.

The acquisition comes at a time when the South African tea market is projected to grow by 11.8% (CAGR 2022-2026), according to Research and Markets. Consumers in the country are increasingly experimenting with non-traditional ways of consuming tea, including the creation of novel combinations with other beverages and foods, as well as the emergence of new and innovative methods of consuming tea, such as tea cocktails. Tea cocktails are becoming increasingly popular globally, with establishments like the 100×100 Arabica Tea and Tea shop in Spain offering a range of tea-based non-alcoholic beverages, including mojito Green Team, spritz red fruit, and gin and Tea.

Gerald
Geraldhttps://news.safaritravelplus.com
As a writer, I have a passion for exploring a variety of topics. When I'm not putting pen to paper, I enjoy traveling and spending time with my family. As a husband and father, I understand the importance of balance and finding time for the things I love. Whether I'm delving into new subjects or spending quality time with my loved ones.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Decoding the Citibike Controversy: Facts, Misunderstandings and Perspective

We have been following the "City Bike" incident over the past three days. Initially, we discussed how Ben...

The Top IT Skills for the Future

The digital world is an ever-evolving landscape, continually influenced by new innovations and technologies. With these rapid advancements...

Migrants New York: Ocasio-Cortez Fields Tough Questions at Town Hall

During a contentious town hall meeting in Corona, Queens, U.S. Representative Alexandria Ocasio-Cortez was confronted by some attendees...

Beyond the Game: A Look at the Technological Advances Prolonging Athletic Careers

The evolution of sports careers has seen a revolutionary shift in the 21st century, primarily fueled by advances...