Tata coffee ltd signed agreement to acquire U S coffee company

Mumbai, June 25 (UNI) 'Tata Coffee' Limited, a 51 per cent owned subsidiary of 'Tata Tea' Limited has signed a definitive agreement to acquire ''Eight'O'Clock''(EOC) Coffee company U S A, from Gryphon Investors for a total acquisition price of US0 million(Rs 1,015 crores).

Headquartered in Montvale, New Jersey, EOC is ranked one in the branded whole bean market and is category leader in the value gourmet segment in US retail market.

The acquisition will tranform 'Tata Coffee' from a regional coffee player in the Indian market to a significant global player with strong and powerful brands in the global markets including in the US.

R K Krishna Kumar, Chairman, Tata Coffee said,''Tata Tea is today one of the fastest growing beverage companies in the world. We expect the group to become one of the largest and most admired beverage players in the world''.

Barbara Roth, Chief Executive Officer, EOC coffee said,'' We are excited to be part of the Tata group. With the backing of the Tata group, we will be able to leverage our brand equity to capture new markets and new geographies'', said a press release here today.

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