Vending

Tata Consumer Products makes offer for Coffee Day Enterprises’ vending business

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December 14, 2020

Tata Consumer Products, which owns the Tata Tea, Eight O'Clock Coffee, Tata Coffee Grand and Himalayan Natural Mineral Water brands, has offered to purchase Coffee Day Enterprises' vending machines for half of what the company is seeking, a source told The New Indian Express. Tata is also interested in acquiring a stake in Coffee Day's retail outlets, according to the source.

Coffee Day Enterprises, which owns India's largest coffee chain and a coffee vending business, on Friday told stock exchanges that its Q2 2021 revenue declined 67% over the prior year's period while EBITDA fell 54%. Coffee Day has been trying to sell assets to repay lenders following the death last year of founder V. G. Siddhartha.