Tata Global Beverages said Monday the company's overseas subsidiary based in UK has acquired a 100% stake in the equity capital of Bronski Eleven, Australia, engaged in coffee business under the MAP brand, with presence in the R&G coffee and coffee in Pods segments in Australia.
"The investment is in line with the company's strategic vision to become a leader in the 'good for you' beverage segment in Australia and it also helps Tata Global Beverages to expand its portfolio to include high growth contemporary single serve business," the company said.
Shares of the company gained Rs 2.65, or 1.83%, to trade at Rs 147.30. The total volume of shares traded was 171,879 at the BSE (11.20 a.m., Monday).