Tata for Activate
October 26/London/Accord Fintech -- Tata Global Beverages' U.K.-based subsidiary acquired a minority stake in the equity capital of U.S.-based Activate, a performance beverage and bottled water company. The subsidiary has an option to increase its stake over the next 12-month period. The investment is in line with the company's strategic vision to become a leader in the "good for you" beverage segment.
The company has reported a net profit of Rs 36.15 crore for the quarter ended June 30, 2010, against Rs 42.96 crore for the quarter ended June 30, 2009, down by 15.85%. Its total income for the quarter under review stood at Rs 459.31 crore, rose 6.33% over Rs 431.96 crore for the corresponding quarter of the previous fiscal.
From the October 27, 2010, Prepared Foods' Daily News
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