Studies of the post-acquisition practices of established economy firms argue that integration is one of the most important factors that drives acquisition performance. Recent research suggests that firms from emerging economies may use different approaches in their acquisitions. However, there is a lack of studies of the post-acquisition strategies of emerging economy firms. This study presents an in-depth case study of the strategy of an emerging economy firm from a large business group after its acquisition of a classical brand-name company in a developed economy. Moreover, this strategy and its performance outcomes is compared with the strategy of the acquired firm´s previous owner, an established MNE from a leading OECD country. The study reveals that the emerging economy firm, Tata Motors, pursued a consistent separation strategy in all the investigated areas – human resource management, new product development, production, and marketing. Moreover, this separation strategy turned out to be much more successful than the integration strategy pursued by the previous owner, Ford Motors.