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Tata plans tea take-over in Russia and US

Tata Global Beverages (TGBL) is planning to purchase a range of Russian and US tea companies and brands in a bid to strengthen its presence in these markets.

According to TGBL managing director Percy Siganporia, the company is in the process of identifying acquisition targets.

The Russian tea market was worth $3.7bn in 2010 in terms of retail sales and tea consumption in the US rose 22% in the last five years to reach sales of nearly $6.5bn in 2011.  Russia and the US are now two of the largest tea markets in the world.

Tata also embarked on a joint venture with Starbucks earlier this week in order to operate cafés in India.

David Hing, London