Sector: Brands
Tata Consumer announces two new acquisitions
1. Capital Foods (CFPL) The Company manufactures and sells chutney, masala, sauces, noodles and soups under the popular brand names – ‘Ching’s Secret’ and ‘Smith & Jones’. Initially, Nestle was rumoured to be acquiring the Company. Finally, it’s Tata Consumer Products that has announced the deal. It’s a 100% acquisition for Rs 5,100 cr Full … Read more
Starbucks targets 1000 stores by 2028
Started in 2012, Tata Starbucks is a 50:50 JV between Tata Consumer and Starbucks. It’s claimed to be a success in India so far and consequently the Company has announced the following – Increase the store count from 390 currently to 1000 by 2028 Currently, it has presence across 54 Indian cities. Going forward the … Read more
Promoter funds continue to sell from Sapphire Foods
Promoters (funds) owned 41.69% of Sapphire Foods at at September 30, 2023. This was almost 10% lower than 51.26% they held post IPO in November 2021. Two promoter entities have now further sold 5.9%Â stake in the restaurant operator for Rs 530 crore through open market transactions. Earlier this month, another promoter entity had offloaded … Read more
Tata Capital eyes fashion brand Rare Rabbit at $300 million valuation: Report
India’s Tata Capital is looking to purchase a roughly 13% stake in premium domestic fashion brand Rare Rabbit at a valuation of $300 million, as it seeks to bet on the country’s affluent shoppers, three sources familiar with the matter said. Tata Capital is the financial services arm of India’s $144 billion salt-to-aviation Tata conglomerate, … Read more
Proxy advisory urges Raymonds independent directors to probe assault allegations
Gautam Singhania, the CMD had publicly announced his separation from his wife Nawaz Modi on November 13. In the aftermath, Nawaz Modi, also a board member, had alleged that she and her daughter were physically assaulted by Singhania in September 2023. On November 28, 2023, Institutional Investor Advisory Services (IIAS), an Indian proxy advisory firm, … Read more
Mahadev Betting App Scam: Dabur chairman-director duo listed in FIR against illegal syndicate
The Burman duo – Dabur Group Chairman Mohit V. Burman and Director Gaurav V. Burman – has been listed in an FIR lodged by Mumbai Police in the Mahadev betting app case. It also includes Bollywood actor Sahil Khan and 28 other accused, ANI reported. However, Dabur issued an official statement and rejected any such … Read more