Financial Daily
from THE HINDU group of publications
Monday, July 23, 2001
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Financial Daily from THE HINDU group of publications Monday, July 23, 2001 |
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Tata Coffee stake in Barista on cards?
Vinay Kamath
CHENNAI, July 22
TATA Coffee is likely to pick up a substantial stake in the coffee pub chain, Barista, according to sources. It is understood that the deal would be sewed up later this week.
Mr R.K. Krishna Kumar, Chairman of Tata Coffee, and Mr Amit Judge, Chairman of the Turner Morrison group, are expected to cobble together the deal. It will involve Tata Coffee taking a stake in the Turner Morrison-owned company, Java Coffee Ltd, which ha
s promoted the Barista chain.
Tata Coffee already has a relationship with Barista as it has been supplying premium coffee to the chain for the past year.
This synergistic deal will take Tata Coffee's process of getting into branded coffee further. The Barista chain expects to have over 75 outlets in all mainline cities by the end of this financial year.
Sources say that Rabo Bank Advisory has mediated the deal. However, the size of the stake is not clear now.
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