Tata Tetley: Managing the Tetley Acquisition


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Case Details:

Case Code : BSTA029
Case Length : 11 Pages
Period : 2000 - 2003
Organization : Tata Tea Limited (TTL)
Pub Date : 2004
Teaching Note :Not Available
Countries : India
Industry : Beverages

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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Excerpts

The Evolution of India's Largest Tea Company

Incorporated in 1962, TTL was controlled by the House of Tatas, one of India's largest and most respected business groups. The formal coming together of two large business houses, namely the Tatas and James Finlay PLC in early 1960 led to the formation of a fledging company named Tata Finlay Limited...

The Tetley Acquisition

In April 1999, TTL's top management assembled in Mumbai to listen to a presentation on a Kenyan plantation company by UK-based Arthur Andersen. TTL had long wanted to buy a plantation in Africa...

Finalizing the Deal

International takeovers were tricky for Indian companies for various reasons. Big capital outflows abroad required various official approvals. Indian accounting rules did not allow consolidation of accounts of parent and subsidiaries, making it difficult to use the target company's balance sheet to raise funds for a takeover...

Integration

Integration of the two companies posed major challenges. Tata and Tetley formed several groups comprising executives from both outfits. Two of these were, the tea procurement group (TPG) and the geographic expansion group (GEG)...

The Road Ahead

Tetley was expected to bring TTL volumes in the short term and greater opportunities in the long term. In 2003, in the UK and Canada, Tetley was the market leader with 29.4 per cent and 43.4 percent share, respectively...

Exhibits

Exhibit I: Tata Tea: Financial Highlights
Exhibit II: Tata Tea: Product Wise Information

  

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