Tata to invest USD 20 mn in beverage

Tata Global Beverages Ltd, a subsidiary of Tata Group, on Tuesday announced it will invest USD 20 million in Activate, a performance beverage and enhanced water company.

Activate announced that it has raised over $6 million in financing and secured equity commitments for an additional $15 million.

The financing is being led by Tata Global Beverages Ltd. and joined by a group that includes experienced beverage investor, James Berkeley, numerous key strategic beverage distributors, as well as existing investors including, The Tornante Company and the Eisner family.

Activate president Dan Holland, said: “Activate will not only benefit from the major investment and overall commitment to the company but also from Tata’s deep expertise in the beverage industry and the solid infrastructure they have built along the way.”

“We have ambitious growth plans and a vision to become the leader in the ‘good for you’ beverage segment. This investment is the latest piece in our strategic journey to reach consumers in different ways and to help deliver sustainable hydration across the world,” said Peter Unsworth, Group CEO of Tata Global Beverages.

This is a follow-up to the Tata’s $6 million capital raise in March of 2010, which was led by First Beverage Group, Tornante and other existing investors.