MUMBAI: Tata Coffee Limited , a 51 per cent owned subsidiary of Tata Tea Limited has signed an agreement to acquire Eight O' Clock Coffee Company (EOC), U.S., from Gryphon Investors for $220 million (Rs. 1,015 crore).

EOC has over 100 years of brand history and retail coffee experience in the United States. It is the number one player in the branded whole bean market and the category leader in the value gourmet segment.

Within the broad U.S. food category, EOC is the third largest coffee brand by volume behind Folgers and Maxwell House. It enjoys significant retail distribution strength with approximately 67 per cent of All Commodity Volume penetration in the U.S retail coffee market.

Headquartered in Montvale, New Jersey, EOC operates its roasting and packaging facility in Landover, Maryland. In calendar year 2005, EOC's net sales $109 million (Rs. 505 crore).

"EOC provides a sizable entry platform and an established brand to Tata Coffee in the $21 billion (Rs. 97,000 crore) U.S. coffee market," said a Tata Group press release on Sunday.

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