PEP PepsiCo Inc

   By P.R. Venkat 
 

Tata Consumer Products Ltd. has agreed to acquire PepsiCo Inc.'s 50% stake in an Indian joint-venture company NourishCo Beverages Ltd.

The acquisition is in line with the company's focus on widening its portfolio in the food-and-beverage space, Tata Consumer said late Monday.

NourishCo Beverages is a joint venture between PepsiCo and NourishCo.

"The liquid beverages category has exciting growth potential and this move will help us strengthen and widen our presence in it," Tata Consumer's chief executive Sunil D'Souza said.

Financial details of the transaction weren't disclosed.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

May 18, 2020 23:28 ET (03:28 GMT)

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