Tata Coffee-Starbucks sign MOU for strategic alliance in India
Tata Coffee has signed MOU with Starbucks Coffee Intl for a potential strategic collaboration in areas of sourcing of coffee beans, roasting etc.
January 13, 2011 / 19:20 IST
Tata Coffee Ltd has informed BSE that Starbucks, the US giant Coffee Company is making an entry with its famed stores into India. It has held several meetings with Tata Coffee Limited, India's largest Coffee Producing Company for a possible alliance.
The Company has entered into a non binding Memorandum of Understanding (MOU) with Starbucks Coffee International, Inc. (Starbucks) for a potential strategic collaboration in areas of Sourcing of coffee beans, coffee roasting facilities etc relating to Starbucks entering retail operations in India initially and for other Asian countries over time. This arrangement is subject to the negotiation and execution of definitive agreements by both Tata Coffee and Starbucks.
The MOU also envisages discussions and evaluating appropriate opportunities across suitable businesses of associates Tata Companies in the food and beverage categories. | | Source : BSE |
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