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21	21	The high-growth contemporary 'single-serve' business is also an important play for Tata Consumer Products. In the USA Tata Consumer Products has an agreement with Green Mountain Coffee Roasters’ Keurig single-serve machines for Eight O'Clock Coffee, with K-Fee for MAP Coffee in Australia, and with Tassimo in Canada for Tetley tea.
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	24	+[[image:TATACONSUM1.jpg]]
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23	23	== Global Alliances ==
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25	25	At Tata Consumer Products, its ambition is to expand its global footprint by entering new markets and new channels with foods and beverages that make its consumers’ day better. With brand presence in over 40 countries, Tata Consumer Products is on a journey to becoming a global leader in branded foods and beverages through organic growth, innovation and strategic alliances. Tata Consumer Products has partnered with some of the biggest players in the beverages category to deliver products and innovations that delight its consumers. Some of its significant alliances are mentioned below:{{footnote}}https://www.tataconsumer.com/company/global-alliances{{/footnote}}
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126	126	In November 2015, Tata Consumer Products announced its entry into the branded instant coffee business in India under the brand name Tata Coffee Grand. After leading the Indian tea market under its iconic Tata Tea brand, the company took the strategic step to leverage its product, marketing and retail expertise to enter the branded coffee space in India.{{footnote}}https://www.tataconsumer.com/brands/coffee/tata-coffee-grand{{/footnote}}
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130	130	== Water ==
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132	132	Water, instant energy and RTD wellness brands{{footnote}}https://www.tataconsumer.com/brands/water{{/footnote}}
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257	257	The Consolidated Profit after tax at Rs. 535 Crore recorded a growth after absorbing the impact of exceptional items. The Group Net Profit for the year remained flat while Group Net Profits net of minority interest at Rs. 460 Crore recorded a growth of 13% as compared to the previous year. Exceptional items for the year primarily relate to costs arising out of the acquisition of the food business and non-cash impairment loss on goodwill relating to the branded businesses in Australia and tea business in the US. The accounting impairment has been recognised due to a combination of factors like COVID - 19 related impact on specific out of home business segments, changes in discount rates due to market conditions and revision in business plan sensitivities.
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	261	+= Recent developments =
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	263	+**Tata Consumer Products to divest stake in US-based Empirical Group, Southern Tea **{{footnote}}https://www.moneycontrol.com/news/business/tata-consumer-products-to-divest-stake-in-us-based-empirical-group-southern-tea-6718551.html{{/footnote}}
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	265	+**April 01, 2021;** Tata Consumer Products Ltd (TCPL) on Thursday announced exit from its two US-based joint ventures by selling its stake to the JV partner Harris Tea Company LLC.
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	267	+TCPL's step-down subsidiaries in the USA have decided to divest their entire membership interest in Empirical Group LLC and Southern Tea LLC to the JV partner Harris Tea Company LLC, USA (Harris Tea), the company informed in a regulatory filing.
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	269	+The exits from both the JVs are in-line with TCPL's strategy to focus on the core branded business, it added.
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	272	+"We hereby inform that the overseas step-down subsidiaries of TCPL in the USA have entered into an arrangement for the sale of its entire membership interest held in Empirical Group LLC (Empirical) and in Southern Tea, LLC (Southern Tea) to its Joint Venture Partner - Harris Tea Company LLC on March 31, 2021,” it said
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	274	+However, the company did not share the amount, which it will receive from the divestment in both JVs.
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	276	+Empirical is engaged in the sale of tea and coffee for food services and contract customers and Southern Tea is a manufacturing entity managed by Harris Tea Company LLC.
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	278	+The exits from both the JVs are in-line with the TCPL's strategy to focus on the core branded business, as the businesses of the above JVs do not have synergies with core branded business of TCPL.
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	281	+"Other than the strategic advantage to TCPL from exiting these JVs, there are no other benefits to the promoter/promoter group of the Company from the said transaction," it added.
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	283	+Commenting on the development TCPL MD & CEO Sunil D’Souza said: "This divestment is another step towards consolidating and strengthening our presence in international markets and will enhance our focus on the branded tea and coffee businesses in the US market.”
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	285	+TCPL (formerly known as Tata Global Beverages), which has operations in India and International markets, had reported Rs 9,637 crore as revenue from operations in FY 2019-20.
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	287	+Its portfolio of products includes tea, coffee, water, salt, pulses, spices, ready to-cook offerings, breakfast cereals, snacks and mini-meals.
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259	259	= References =
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261	261	{{putFootnotes/}}