 Bottled water sales are outstripping those of other soft drinks in the US |
India's Tata Group has bought a 30% stake in Glaceau, a US manufacturer of specialist bottled waters, for $677m (�358m) - boosting its US interests. The Mumbai-based business, whose interests range from engineering and energy to consumer goods, is buying the stake from private equity firm TSG.
Set up by Darius Bikoff in 1996, Glaceau produces nutrient-enhanced and fruit-flavoured bottled waters.
Growing consumer interest in health and well-being will aid Glaceau, Tata says.
Alternative water
Tata has been looking to expand its business in the US, where it already has annual sales of nearly $2bn.
Tata is best known outside India for owning Tetley Tea, which it bought in 2000.
 |  The Tata Group has built a global reputation on the fundamental premise that doing good can translate into doing good business |
Glaceau was set up to satisfy consumer demand for alternatives to tap and spring water.
Its products include vitaminwater, fruitwater and smartwater, an electrolyte-enhanced drink.
Glaceau said the deal would ensure the firm's independence.
"The Tata Group has built a global reputation on the fundamental premise that doing good can translate into doing good business," said Krishna Kumar, vice chairman of Tata's tea business.
"Glaceau exemplifies this philosophy."
The Tata Group encompasses more than 90 companies, which produced total sales of more than $22bn last year.
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