Tata Global Beverages enters a multi-year partnership with Green Mountain Coffee Roasters Inc to distribute and sell Eight O'Clock coffee, Tetley tea and Good Earth tea.
Tata Global Beverages , which makes Tata Tea and Tetley Tea, today said it has entered in a multi-year partnership with Green Mountain Coffee Roasters Inc (GMCR), a leader in speciality coffee and coffee makers to distribute and sell Eight O'Clock coffee, Tetley tea and Good Earth tea in GMCR's Keurig K-Cup and Vue packs.
"Eight O'Clock Coffee company and GMCR plan to make a select offering of Eight O'Clock coffee K-Cup packs available through in-home and away-from-home channels in US and Canada in 2012," Tata Global Beverages and GMCR said in a joint statement.
The tea packs would hit the shelves only in 2013, they said. The financial agreement for the partnership was not disclosed.
"We look forward to working with GMCR to make the top-selling whole bean coffee brand into a successful single cup coffee," Tata Global Beverages US Senior Vice President (Sales and Marketing) David Allen said.
Tata Global Bev stock price
On July 30, 2014, Tata Global Beverage closed at Rs 152.75, down Rs 2.45, or 1.58 percent. The 52-week high of the share was Rs 177.15 and the 52-week low was Rs 131.25.
The company's trailing 12-month (TTM) EPS was at Rs 7.23 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 21.13. The latest book value of the company is Rs 41.61 per share. At current value, the price-to-book value of the company is 3.67.
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