India's Tata Global Beverages and Nestle Ltd have, or have had in the past, an interest in acquiring US iced tea maker Arizona Beverage Co, according to Beverage Digest.
At least two companies have had an interest in privately held Arizona and have had talks, the trade publication reported on Friday. Beverage Digest cited "several sources," including one who said, "I don't think anything is imminent."
Sources cited enterprise valuations for Arizona ranging from USD 3 billion to USD 4.25 billion, Beverage Digest said.
Nestle, which makes Sweet Leaf Tea and Nestea, is said to be one of the interested parties, Beverage Digest said. It said Tata, which owns the Tetley brand, was the other.
Soft drink leader Coca-Cola Co, which lags rivals in the US tea market, was not mentioned by any sources as having a recent interest, Beverage Digest said.
Tata, Nestle, Arizona and Coca-Cola were not immediately available to comment.
Interest in bottled tea has risen in recent years as a growing health-consciousness led many people to look for alternatives to carbonated sodas. Arizona, which first hit New York City shelves in 1992, is known for its large cans of iced tea. It is now one of the biggest tea brands in the United States, tying PepsiCo Inc's Lipton with about a third of the market, according to Beverage Digest.
