TCPL Beverages & Foods Limited agreed to acquire 42.52% stake in Plantation Business of Tata Coffee Limited from Tata Coffee Limited (BSE:TATACOFFEE) for INR 2.7 billion on March 29, 2022. One equity share of Tata Consumer Products Limited will be issued for every 22 shares of Tata Coffee Limited. The business has revenues of INR 3.8 million in 2021. The Board of Directors of Tata Coffee Limited and Board of Directors of the Parent Company at its meeting held on March 29, 2022 has, inter alia, approved the acquisition. The acquisition was been approved by the shareholders of Tata Consumer Products Limited on November 12, 2022, and by the shareholders of Tata Coffee Limited on February 3, 2023. The transaction is subject to inter-alia receipt of the approval of the Regional Director, MCA and the Registrar of Companies, National Company Law Tribunals (benches at Kolkata and Bengaluru) and other regulatory authorities. During 2023, the transaction received the no-objection from the Securities and Exchange Board of India and the Stock Exchanges where the shares of the Company are listed, namely BSE Limited, National Stock Exchange of India Limited and The Calcutta Stock Exchange Limited. As of October 31, 2023, NCLT, Bengaluru approved the transaction. ICICI Securities Limited (NSEI:ISEC) acted as the fairness opinion provider to Tata Coffee Limited (BSE:TATACOFFEE). Kotak Mahindra Capital Company Limited acted as the financial advisor and fairness opinion provider to TCPL Beverages & Foods Limited. Cyril Amarchand Mangaldas and KPMG acted as legal and tax advisor in transaction.

TCPL Beverages & Foods Limited completed the acquisition of 42.52% stake in Plantation Business of Tata Coffee Limited from Tata Coffee Limited (BSE:TATACOFFEE) on January 1, 2024.