Tata Global Beverages Ltd restructures overseas operations, exits non-core markets

By: |
New Delhi | Published: September 10, 2018 1:01:07 PM

Tata Global Beverages Ltd (TGBL) has restructured its international operations by merging its businesses in Canada, America and Australia (CAA) and the UK, Europe, Middle East and Africa (EMEA) regions into a single unit.

Tata Global Beverages, TGBL, tataTGBL said it has restructured its international operations in order to unlock synergies for the business, optimise costs and streamline operations.

Tata Global Beverages Ltd (TGBL) has restructured its international operations by merging its businesses in Canada, America and Australia (CAA) and the UK, Europe, Middle East and Africa (EMEA) regions into a single unit. The Tata Group firm has also exited non-core and sub scale markets to focus on core markets. “In Russia, the company has restructured its operating model, it has divested its stake in plantations in Sri Lanka, and exited its joint venture business in China,” TGBL said in a regulatory filing.

TGBL said it has restructured its international operations in order to unlock synergies for the business, optimise costs and streamline operations. Tata Global Beverages MD and CEO Ajoy Misra said, “The restructure will help us better focus on core markets and better leverage growth opportunities.”

The company said EMEA and and CAA units have been merged into a single unit called the international business division, with experienced country heads in key markets, reporting into a single head, Adil Ahmad for the division. The company said it has also identified back office processes in human resources, finance and operations, and outsourced the management of these back office processes to Tata Consultancy Services (TCS).

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Content tie-ups: How Airtel is snapping Reliance Jio’s heels
2Matter of concern: Bank deposit growth lags for a year
3Aftermath of Nirav Modi fraud: PNB recovers record Rs 11,378 cr in 5 months