Tata Consumer Products Merges 3 Wholly-owned Subsidiaries In India

After securing approval from the National Company Law Tribunal (NCLT), Tata Consumer Products or TCPL, a fast-moving consumer goods (FMCG) maker, has merged three of its wholly-owned subsidiaries. After getting the other regulatory clearance, TCPL has now merged Tata Consumer Soulfull (TCSPL), NourishCo Beverages (NCBL) and Tata SmartFoodz (TSFL) with the company, as per the official statement.

The company, in a regulatory filing on the Bombay Stock Exchange (BSE), stated, “We wish to inform you that the conditions outlined under Clause 17 of the scheme, including the filing of certified copies of the order with the registrar of companies, of the respective companies, in form INC-28, have been duly completed. Accordingly, in terms of scheme, the effective date of the scheme of merger is 1 September 2024.”

As per the company, the merger is aimed at simplifying and synergising its business. The company stated that the consolidation of the legal entity structure will unlock efficiencies and synergies. However, the operating structure will remain unchanged.

“There is no change in the operating structure for these business units and they will continue to stay focused on the following portfolios such as Millet-based products, ready-to-drink products and ready-to-cook/eat products.”

Sunil D’Souza, Managing Director and Chief Executive Officer of TCPL stated, “We have been reorganising our business in line with our strategic priorities- to unlock synergies and create a future-ready organisation. This merger is one more step towards building a simplified and agile business. It will enable administrative and financial synergies.”

The company’s product portfolio includes tea, coffee, water, salt, pulses snacks and many more and has a consolidated annual turnover of around Rs 15,206 crore with operations within the country as well as overseas.