Indian Tea Giant Tata Buys Tetley

Tetley Group, maker of the second-biggest brand of tea bags in the world, has been acquired by the Indian company Tata Tea Ltd. for $433.6 million. Tata Tea, part of the Tata Group, is the largest integrated tea company in the world, with additional interests in coffee and spices. The two companies were already working together through a joint venture, Tata Tetley, which manufactures tea bags in India. Tata said it was keen to acquire an international brand as a key to expanding its markets internationally and to compete with the market leader, Unilever, owner of the Lipton Tea brand.

* Rival investment firms this week are likely to join Nabisco Holdings Corp. to offer $2.01 billion for United Biscuits of Britain, the world’s fourth-largest cookie company. Finalrealm Ltd., a group comprising Paribas of France, London-based buyout firm Cinven and Deutsche Bank aim to link with Nabisco and its partner Hicks, Muse, Tate & Furst Inc. to bid on United Biscuits.