Tata Coffee
{{Short description|Indian coffee company}}
{{EngvarB|date=January 2014}}
{{Use dmy dates|date=January 2014}}
{{Infobox company
| name = Tata Coffee
| logo = Tata Coffee Logo.svg
| logo_size =
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| image =
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| trade_name =
| former_name = {{ubl|Consolidated Coffee Estates (1922–66)|Consolidated Coffee Limited (1966–2000)}}
| type = Public Subsidiary
| traded_as = {{BSE|532301}}
{{NSE|TATACOFFEE}}
| ISIN = INE493A01027
| industry = Agriculture
| predecessors = {{ubl|Coorg Co. Ltd.|Pollibetta Coffee Estates Co. Ltd.}}
| successors = Tata Consumer Products
| founded = {{Sda|1922}}
| founder =
| defunct = {{End date|2024|01|01|df=yes}}{{cite web |title=Tata Coffee, Tata Consumer Products merger to be effective from January 1 |url=https://www.business-standard.com/companies/news/tata-coffee-tata-consumer-products-merger-to-be-effective-from-january-1-123122900146_1.html |website=Business Standard |access-date=12 April 2024 |date=29 December 2023}}
| fate = Merged with parent company
| hq_location = No. 57, Railway Parallel Road, Kumara Park West
| hq_location_city = Bangalore, Karnataka
| hq_location_country = India{{cite web |title=Contact Us {{!}} Tata Coffee |url=https://tatacoffee.com/contact-us |website=tatacoffee.com |access-date=8 May 2022}}
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| area_served = Worldwide
| key_people = {{ubl|R. Harish Bhat
(chairman)|Chacko Purackal Thomas
(MD & CEO){{cite web |title=Tata Coffee Leadership |url=https://tatacoffee.com/about-us/leadership |website=tatacoffee.com |access-date=10 May 2022}}}}
| products = {{flatlist|Coffee {{•}}Tea {{•}}Pepper}}
| production =
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| revenue = {{increase}} {{INRConvert|2879.56|c}}
| revenue_year = 2023
| operating_income = {{increase}} {{INRConvert|272.60|c}}
| income_year = 2023
| profit = {{increase}} {{INRConvert|321.16|c}}
| profit_year = 2023
| assets = {{increase}} {{INRConvert|4059.47|c}}
| assets_year = 2023
| equity = {{increase}} {{INRConvert|2351.18|c}}{{cite web |title=Tata Coffee Financial Results for the year ended 31st March 2023 |url=https://www.tatacoffee.com/sites/default/files/collaterals/Financial_Results_FY2022_23.pdf|website=Tata Coffee |access-date=18 April 2023}}
| equity_year = 2023
| owner =
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| parent = Tata Consumer Products (57.48%){{cite web |title=Shareholding Pattern |url=https://www.tatacoffee.com/sites/default/files/collaterals/investors/shareholding_pattern_as_on_30th_september_2023.pdf |website=Tata Coffee |access-date=12 April 2024}}
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| website = {{URL|https://tatacoffee.com/}}
| footnotes =
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Tata Coffee was an Indian company that produced coffee, tea, pepper and related products. It was a subsidiary of Tata Consumer Products, and part of the Tata Group. Tata Coffee was merged with Tata Consumer Products on 1 January 2024.
Tata Coffee owned 19 coffee estates in South India,{{cite press release |date=19 October 2012 |publisher=Tata Global Beverages |url=http://www.tataglobalbeverages.com/media-centre/news/news-detail/2012/10/19/starbucks-opens-spectacular-flagship-store-in-mumbai-honoring-the-dynamic-culture-of-india |title=Starbucks Opens Spectacular Flagship Store in Mumbai, Honoring the Dynamic Culture of India |url-status=dead |archive-url=https://web.archive.org/web/20130405092813/http://www.tataglobalbeverages.com/media-centre/news/news-detail/2012/10/19/starbucks-opens-spectacular-flagship-store-in-mumbai-honoring-the-dynamic-culture-of-india |archive-date=5 April 2013|df=dmy-all}} spread across the districts of Chikmagalur, Kodagu, and Hassan in Karnataka, and Valparai district in Tamil Nadu. Tata Coffee was the largest integrated coffee plantation company in the world.{{cite web | url = http://www.moneycontrol.com/news/stocks-views/tata-coffee-has-target-rs-298chugh_411026.html | title = Tata Coffee has target of Rs 298: Chugh | publisher = Moneycontrol | date = 13 Aug 2009| access-date= 14 March 2011}} Tata Coffee entered into a coffee sourcing and roasting agreement with Starbucks Coffee Company to supply coffee beans to its coffee chains in India. Both agreed to work toward developing and improving the profile of India-grown coffee around the world, as well as improving the quality of coffee through sustainable practices and advanced agronomy solutions. In 2012, the two companies launched the equal joint venture Tata Starbucks (formerly Tata Starbucks limited). According to the reports, Tata Coffee established a $50 million greenfield instant coffee facility in Vietnam.{{Cite web|url=https://www.thedollarbusiness.com/news/tata-coffee-to-set-up-facility-in-vietnam/48901|title=Tata Coffee to set up facility in Vietnam |website=thedollarbusiness.com|language=en|access-date=2018-07-25}}{{Cite news|url=http://www.dnaindia.com/business/report-tata-coffee-shares-up-after-plans-of-new-plant-in-vietnam-2284756|title=Tata Coffee shares up after plans of new plant in Vietnam|date=2016-12-20|work=dna|access-date=2018-07-25|language=en-US}}
History
Tata Coffee traces its origins to 1922 when two coffee plantation companies—Coorg Co. Ltd., London and Pollibetta Coffee Estates Co. Ltd., London—were purchased by Edinburgh-based Matheson and Company and merged to form Consolidated Coffee Estates Ltd., Edinburgh.{{Cite web |title=Tata Coffee Heritage |url=https://tatacoffee.com/heritage |access-date=2022-05-10 |website=tatacoffee.com}}{{Cite book |last=Plys |first=Kristin Victoria Magistrelli |url=https://books.google.com/books?id=bRzhDwAAQBAJ |title=Brewing Resistance: Indian Coffee House and the Emergency in Postcolonial India |date=2020-10-29 |publisher=Cambridge University Press |isbn=978-1-108-49052-8 |pages=7–8 |language=en}} The merger created the largest coffee plantation in India. Consolidated Coffee Estates Ltd. had its registered office at 71 George Street in Edinburgh, Scotland.{{Cite book |last=Dobbie |first=Aline |url=https://books.google.com/books?id=ckpEd4emnCkC |title=India: The Elephant's Blessing |date=2006 |publisher=Melrose Press|page=187 |isbn=978-1-905226-85-6 |language=en}} Ivor Bull, an employee of Matheson and Company, was appointed as the Chairman of Consolidated Coffee Estates in 1936 and arrived in Coorg to manage the coffee plantation. In 1943, Bull purchased Consolidated Coffee Estates Ltd. from Matheson, and registered it as an Indian company headquartered in Pollibeta. In the same year, shares in Consolidated Coffee Estates were offered to the general public through a prospectus. Its parent, Edinburgh Company, was allotted the majority stake as a consideration for transfer of its estates. In the following years, the Edinburgh Company divested its shareholdings to the Indian public and relinquished its controlling stake in 1966. Bull managed the company until 1966, after which he retired and returned to England where he lived on a farm in Suffolk until his death in 1971.
During 1966–67, Consolidated Coffee Estates was renamed as Consolidated Coffee Limited following the merger of Volkart properties in India, which included four estates, two curing works and an export division with Consolidated Coffee Estates. Tata Tea Ltd. (now Tata Consumer Products) acquired a 52.40% stake in Consolidated Coffee Limited in 1991.{{Cite web |title=Tata Coffee History {{!}} Tata Coffee Information |url=https://economictimes.indiatimes.com/tata-coffee-ltd/infocompanyhistory/companyid-13879.cms |access-date=2022-05-10 |website=The Economic Times |language=en}} Asian Coffee Ltd., Veerarajendra Estates Ltd., and Charagni Ltd. merged with Consolidated Coffee Limited in September 1999, creating the largest integrated plantation company in the world. Consolidated Coffee Limited was renamed Tata Coffee Limited on 11 August 2000. Tata Coffee acquired a 34.2% stake in Indian coffeehouse chain Barista for {{INRConvert|26|c|year=2002}} in August 2002.{{Cite web |date=2002-08-20 |title=Tata Coffee invests Rs 26 cr in Barista Coffee |url=https://timesofindia.indiatimes.com/business/india-business/tata-coffee-invests-rs-26-cr-in-barista-coffee/articleshow/19584181.cms |access-date=2022-05-10 |website=The Times of India |language=en}} The company sold its stake in Barista to Chennai-based Sterling Infotech Group, promoted by C. Sivasankaran, in 2004.{{Cite web |last=S& |first=Rajalakshmi |title=Rollatainers to acquire Barista Coffee |url=https://www.thehindubusinessline.com/markets/lavazza-sells-barista-exits-coffee-shop-business-in-india/article64133614.ece |access-date=2022-05-10 |website=thehindubusinessline.com |date=12 August 2014 |language=en}}
Tata Coffee acquired 5 tea estates and one coffee estate located in the Anaimalais region in Tamil Nadu from its parent company, Tata Tea, in 2005. In the same year, the company also acquired an instant coffee facility at Theni, Tami Nadu from the High Hill Coffee Company.{{Cite news |title=Tata Coffee Ltd. |work=Business Standard India |url=https://www.business-standard.com/company/tata-coffee-121/information/company-history |access-date=2022-05-10}} On 25 June 2006, Tata Coffee announced that it had acquired American coffee brand Eight O'Clock Coffee from Gryphon Investors for {{INR}}1,015 crores (US$220 million).{{Cite news |title=Tatas buy Eight O'Clock Coffee |work=The Economic Times |url=https://economictimes.indiatimes.com/t-companies/tata-tea/tatas-buy-eight-oclock-coffee/articleshow/1679209.cms |access-date=2022-05-10}}{{cite web |title=Tata Coffee announces the acquisition of Eight O' Clock Coffee company For US$220 million (Rs 1,015 crores) |url=https://tatacoffee.com/sites/default/files/collaterals/investors/eight_o_clock.pdf |website=Tata Coffee |access-date=10 May 2022}}
Tata Coffee signed an agreement to supply coffee beans to American coffeehouse chain Starbucks in October 2004, which was the first time the latter had sourced coffee beans from India.{{Cite web |agency=Reuters |date=2012-01-31 |title=Tata Starbucks to open 30-50 cafes this year |url=https://www.livemint.com/Home-Page/b4WekOUFqqTbVEOmqyEDqN/Tata-Starbucks-to-open-3050-cafes-this-year.html |access-date=2022-05-10 |website=mint |language=en}} In February 2013, Tata Coffee and Starbucks inaugurated a roasting and packaging facility at Kushalnagar, Karnataka to supply coffee beans to Tata Starbucks outlets in India and some Starbucks' overseas markets.{{Cite web |date=2013-02-08 |title=Tata Coffee kicks off roasting unit to supply beans to Starbucks |url=https://www.thehindubusinessline.com/companies/tata-coffee-kicks-off-roasting-unit-to-supply-beans-to-starbucks/article64985086.ece |access-date=2022-05-10 |website=thehindubusinessline.com |language=en}} The 8,258 sq ft facility has the capacity to produce 375 metric tonnes of coffee annually.{{Cite news |title=Starbucks, Tata Coffee open roasting plant in Karnataka |work=The Economic Times |url=https://economictimes.indiatimes.com/industry/cons-products/food/starbucks-tata-coffee-open-roasting-plant-in-karnataka/articleshow/18399126.cms |access-date=2022-05-10}}{{Cite web |title=Starbucks Coffee Company and Tata Coffee Limited Inaugurate Roasting and Packaging Plant in Kushalnagar, Karnataka, India |url=https://stories.starbucks.com/stories/2013/starbucks-coffee-company-and-tata-coffee-limited-inaugurate-roasting-and-pa/ |access-date=2022-05-10 |website=Starbucks Stories |language=en-us}}
In March 2022, Tata Consumer Products announced that Tata Coffee would be dissolved as part of a reorganization plan. Under the plan, Tata Coffee's extraction and branded coffee business would be merged with the parent company, while its plantation business would become a part of TCPL Beverages & Foods, which is a wholly owned subsidiary of Tata Consumer Products.{{cite web |title=Tata Coffee to merge with Tata Consumer |url=https://www.business-standard.com/article/news-cm/tata-coffee-to-merge-with-tata-consumer-122033000325_1.html |website=Business Standard |access-date=12 April 2024 |date=30 March 2022}} The merger became effective on 1 January 2024.{{Cite web |date=2023-12-29 |title=Tata Coffee merger with Tata Consumer Products, TCPL Beverages set for January 1 |url=https://www.moneycontrol.com/news/business/markets/tata-coffee-merger-with-tata-consumer-products-tcpl-beverages-set-for-january-1-11970421.html |access-date=2024-04-12 |website=Moneycontrol |language=en}}{{Cite web |date=2023-12-28 |title=Tata Coffee to merge with Tata Consumer, TCPL Beverages on January 1 — check record date, other details |url=https://www.cnbctv18.com/business/companies/tata-coffee-to-merge-with-tata-consumer-tcpl-beverages-on-january-1--check-record-date-other-details-18668341.htm/ |access-date=2024-04-12 |website=CNBCTV18 |language=en}} Tata Coffee was delisted from stock exchanges on 15 January 2024.{{Cite web |title=Suspension of trading in Tata Coffee Limited |url=https://zerodha.com/marketintel/bulletin/368662/suspension-of-trading-in-tata-coffee-limited |access-date=2024-09-13 |website=zerodha.com}}
Awards
Since 2002, Tata Coffee has been consistently named the best coffee in India by the Coffee Board of India's annual Flavour of India – Fine Cup Award, holding the title, in 2017, for the seventh consecutive year.[https://economictimes.indiatimes.com/tata-coffee-ltd/infocompanyhistory/companyid-13879.cms Economic Times] "ET Markets: Tata Coffee Ltd.";The Economic Times.
In 2012, Tata Coffee was recognized for initiatives taken to mitigate climate change risks with the 2011 - 2012 Green Business Leadership Award by The Financial Express and Emergent Ventures India (FE-EVI), an integrated climate change company partnered with the Indian School of Business.{{cite web |url=https://www.indiainfoline.com/article/news/tata-chemicals-wins-prestigious-2011-12-fe-evi-green-business-leadership-award-5436146331_1.html |via=IIFL |title=Tata Chemicals wins prestigious 2011-12 FE-EVI Green Business Leadership Award |agency=India Infoline News Service |date=7 June 2012}}
On 16 October 2017, Tata coffee was judged "Best Coffee in India" at the Ernesto Illy Second Annual International Coffee Awards.{{cite web |url=https://www.illy.com/en-us/company/company/ernesto-illy-international-coffee-award |title=Ernesto Illy International Coffee Award |website=Illy.com |access-date=8 March 2018 |archive-date=9 March 2018 |archive-url=https://web.archive.org/web/20180309121817/https://www.illy.com/en-us/company/company/ernesto-illy-international-coffee-award |url-status=dead }}
Conservation
Tata Coffee undertakes various conservation schemes and initiatives.{{Cite web |title=Tata Coffee Sustainability {{!}} Tata Coffee |url=https://tatacoffee.com/sustainability |access-date=2022-05-11 |website=tatacoffee.com}} The company protects over 1,075 hectares of rainforest within its coffee and tea estates.{{Cite news |last=Raman |first=T.R. Shankar |date=2021-08-08 |title=Why frenzied tree planting is no answer to ecological restoration |language=en-IN |work=The Hindu |url=https://www.thehindu.com/sci-tech/energy-and-environment/why-frenzied-tree-planting-is-no-answer-to-ecological-restoration/article35759379.ece |access-date=2022-05-12 |issn=0971-751X}} All 19 of Tata Coffee's estates are Rainforest Alliance, UTZ and SA8000 certified.{{Cite web |title=Great coffee does not just happen |url=https://tatacoffee.com/blog-entry/great-coffee-does-not-just-happen |access-date=2022-07-26 |website=Tata Coffee}} In 2005, Tata Coffee provided land for a rainforest nursery to Nature Conservation Foundation, a Mysuru based non-governmental organization.{{Cite web |last=Pardikar |first=Rishika |date=2020-02-05 |title=How to restore a rainforest with a nursery, science and some bat poop |url=https://theprint.in/environment/how-to-restore-a-rainforest-with-a-nursery-science-and-some-bat-poop/359428/ |access-date=2022-05-12 |website=ThePrint |language=en-US}}{{Cite web |last=Banerjee |first=Ananda |date=2022-02-03 |title=From Seed To Forest |url=https://www.outlookindia.com/magazine/story/india-news-from-seed-to-forest/304617 |access-date=2022-05-12 |website=Outlook India |language=en}}
References
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External links
- {{Official website|http://www.tatacoffee.com/}}
{{Tata Group}}
{{Coffee}}
Category:Companies based in Bengaluru
Category:Food and drink companies established in 1922
Category:Indian companies established in 1922
Category:Drink companies of India
Category:Tata Consumer Products
Category:Agriculture companies of India
Category:Indian companies established in 1943
Category:2024 disestablishments in India
Category:Companies formerly listed on the Bombay Stock Exchange
Category:Companies formerly listed on the National Stock Exchange of India