Mumbai: Tata Coffee will merge with Tata Consumers Products Ltd ( TCPL). On Thursday The Board of Directors of TCL (Tata Coffee Limited) in collaboration with TCPL acknowledged the conditions under 29 clauses of provisions are fulfilled and stated in regulatory filings. The upcoming merger will be effective from 1 January 2024. It will be a composite scheme of arrangements among TCPL, and TCL.

As per media reports, TCPL will issue one equity share to existing Tata Coffee shareholders. After demerger or amalgamation TCL will dissolve with the statutory process.

Tata Consumer Products is known for its quality and innovation. Tata Consumers Limited has different product lines of Coffee, Tea, Salt, Liquid Foods, and beverages. In the last few years, Tata Consumers gave better returns on stock investment.

This FMCG consolidated business will help Tata Group for its momentum to market share expansion. Tata Consumer Products also has a strong presence abroad in the FMCG segment. According to industry experts, it is likely to add to its earnings by 3-5%. In the next financial year.

According to the Forbes India report, TCPL is the 8th largest FMCG player in India with a market cap of Rs 0.879 Lakhs Crores.