In 1994, Ratan Tata, then-chairman of the Tata Group, set his sights on acquiring the British tea company Tetley. Despite his efforts, Tata Tea was unable to secure financing and ultimately lost the bid to a private equity firm, as per reports by ET.
However, Ratan Tata's perseverance paid off when Tetley came back on the market in 2000. This time, he successfully made a bid of $432 million, marking the Tata Group's first major overseas acquisition.
In 1999, Tata Motors faced significant challenges, and Ratan Tata even offered the car business to Ford. Ford declined the offer. Fast forward to 2008, and Tata Motors acquired Ford’s iconic brands, Jaguar and Land Rover, for $2.3 billion. Bill Ford, the then-chairman of Ford, later expressed gratitude to Ratan Tata, stating, "Thank you for saving us."
Ratan Tata always envisioned a substantial presence in aviation. In 1995, Tata Sons, in collaboration with Singapore Airlines, aimed to launch a domestic airline, but Indian regulations prohibited foreign stakes in local carriers.
In 2001, Tata Sons attempted to bid for Air India, which was originally founded by Tata in 1932. Unfortunately, the government’s privatization plans were shelved. However, in 2021, Tata Sons successfully acquired Air India after the government decided to sell it. Ratan Tata approved this move post-retirement, while serving as chairman of Tata Trusts.
Not all of Tata's acquisitions were without controversy. In 2002, the acquisition of VSNL faced backlash over fund usage. Ratan Tata even offered to return VSNL and later resigned as chairman, stepping away from the position entirely.
Indian Hotels (Taj) faced disappointment in its pursuit of Orient Express Hotels. Despite acquiring a 10% stake and making a $1.2 billion bid in 2012, the deal fell through because Orient Express was hesitant to associate with an Indian brand. After years of effort, Taj abandoned its pursuit, showcasing the tough realities of global business.