Tata Consumer Products, the maker of Tata Tea, has announced its acquisition of Capital Foods, the company behind Ching’s Secret and Smith & Jones brands.
The buy, at an enterprise value of Rs 5,100 crore on a no cash, no debt basis, will be carried out in a phased manner, with Tata Consumer acquiring 75 per cent of the shareholding before March 31 and the remaining 25 per cent within three years, the company said in an exchange filing late Friday evening.