Coffee Service

Tata Consumer Products eyes Coffee Day’s vending business

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September 25, 2020

Tata Consumer Products Ltd., owner of Tata Tea, Tetley and Tata Salt, is considering a bid for Coffee Day Enterprises Ltd.'s vending business, people familiar with the matter told Bloomberg News.

The Tata board has approved a proposal to explore an acquisition of the operation from Coffee Day, said a person who asked not to be identified. Coffee Day is reportedly seeking a valuation of about 20 billion rupees ($271 million) for the vending machine business, another source said.

Coffee Day owns India's largest coffee chain and has been trying to sell assets to repay lenders following the death last year of founder V. G. Siddhartha.

Tata Consumer Products already has a joint venture with Starbucks Corp. in India.