Word: tetley
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...Cashed up thanks to rising profits at home, Indian firms are on a shopping spree?and increasingly looking abroad. In the past year, the Tata Group has snapped up everything from American telecom firm Tyco Global to venerable British teamaker Tetley. Other Indian companies have bought foreign pharmaceutical firms, auto-parts makers and aluminum suppliers. Last week a consortium led by India's Videocon Industries agreed to buy South Korean appliance maker Daewoo Electronics for $700 million. "Indian companies have become competitive, and they realize that," says Gurcharan Das, former CEO of Procter & Gamble India and author of the best...
...multiplied Tata group revenues seven times to an annual $22 billion. Since 2000, the group's market value has multiplied almost 18 times to $49.1 billion. For the past six years, Tata has been on a $1.9 billion acquisition spree that has netted Britain's Tetley Tea, South Korea's Daewoo Commercial Vehicles, Singapore's NatSteel and New York City's Pierre Hotel, among more than a dozen others. And it's not over yet. Last week, Anglo-Dutch steelmaker Corus agreed an $8 billion takeover bid by Tata Steel. If the deal goes through, it would be the largest...
...After nine years of consolidation and streamlining, Tata signaled a new prominence for the emerging Asian conglomerate in 2000 when the most Indian of brands bought one of the most English, Tetley Tea. At $435 million, the deal was the biggest in Indian history, and it presaged a wave of international expansion by Indian and Chinese businesses like Mittal Steel and Lenovo. For Tata, entering the West was not an end in itself. Buying Tetley was simply a way to grow Tata Tea. "We look for the acquisition of companies that fill a product gap or have a strategic connection...
...multiplied Tata group revenues seven times to an annual $21.7 billion. Since 2000, the group's market value has jumped 14 times to $39.9 billion. And over the past six years Tata has been on a $1.9 billion acquisition spree that has netted Britain's Tetley Tea, South Korea's Daewoo Commercial Vehicles, Singapore's NatSteel and New York's The Pierre hotel, among 14 others. "Nothing succeeds like success," says Sanjay Bhandarkar, managing director of N.M. Rothschild in India. "All credit goes to Ratan Tata. He clearly has a vision and knows what he's doing...
...After nine years of consolidation and streamlining, Tata signaled a new prominence for the emerging Asia conglomerate in 2000 when the most Indian of brands bought one of the most English, Tetley Tea. At $435 million, the deal was the biggest in Indian history, and it presaged a wave of international expansion by Indian and Chinese businesses like Mittal Steel and Lenovo. For Tata, entering the West was not an end in itself. Buying Tetley was simply a way to grow Tata Tea. "We look for the acquisition of companies that fill a product gap or have a strategic connection...