Tata Group's investment in Glacéau® strengthens its US presence and provides opportunities for the global growth of Tata's beverage businesses. This transaction, which was approved by Tata Sons' and Tata Tea's boards of directors at meetings held earlier, is being made through Tata Tea GB, which includes Tetley Tea's operations worldwide.

"Glacéau® is part of a very exciting, strong business and provides Tata Tea an opportunity to be present in the unfolding crossover space in the beverages market. We believe that the whole Glacéau® product line of 'vitaminwater', 'smartwater' and 'fruitwater' will help us expand our beverage business in North America," said R K Krishna Kumar, vice-chairman, Tata Tea and, director, Tata Sons.

"The really good news for our employees, distributors and retailers who are responsible for our success is that this partnership ensures our continued independence. We appreciate and value TSG Consumer Partners' support for the company and its management," said Mike Repole, President of Glacéau®.

"I want to thank all the people who have made vitaminwater® so popular and told their friends about it. Now, millions more across the country looking for something healthier to drink can finally go out and get their own bottle of vitaminwater®," said J Darius Bikoff, Glacéau® founder and CEO.

Tata Group had US revenues of more than $1.97 billion, and global revenues of $22 billion in 2005-6. Tata Group has had a US presence since 1945 and its growing North American beverage business, which includes Tetley Tea, Good Earth Teas and Eight O'Clock Coffee, is a key part of its global strategy.

Glacéau® brands include vitaminwater®, which is nutrient-enhanced, smartwater® which is electrolyte-enhanced, and fruitwater®, which is flavour-enhanced.

This transaction is subject to customary closing conditions including governmental notifications and approvals. Rabobank International is serving as the exclusive financial advisor for this transaction. Shearman & Sterling LLP is serving as transaction counsel to Tata, and Debevoise & Plimpton LLP is serving as transaction counsel to Glacéau®.

About Glacéau®
Formed in 1996, Glacéau® is the creator of the enhanced water category and maker of vitaminwater®, fruitwater® and smartwater®. In a tradition of "keeping it real," the company specialises in products that use only natural flavours and colours. Since inception, Glacéau® has experienced more than 200 per cent compounded annual growth and now sells more than five million bottles every day.

About TSG Consumer Partners
Founded in 1987, TSG Consumer Partners is a leading private equity firm in the US that pioneered the use of private equity in high-growth, middle-market, branded consumer companies. In addition to its early investment in Glacéau®, TSG has invested in a number of branded consumer companies including Smart Balance Foods, PureOlogy, Mauna Loa, Medtech, Meguiar's, Met-Rx Nutrition, and Famous Amos, among others.