Tetley US Holdings, a subsidiary of Tata Tea, has signed an agreement to acquire FMALI Herb Inc and Good Earth Corporation.According to a release issued by Tata Tea to the BSE today, Good Earth Corporation owns the Good Earth brand, which is licensed to FMALI Herb."Good Earth will continue to blend and pack teas at its base in Santa Cruz, California, and Good Earth teas will continue to trade under the Good Earth brand name," the release said.Ken Pringle, executive vice chairman & CEO of Tetley group and director of Tata Tea, said : "This acquisition is an important contribution to our plans for growing the Tata Group's tea business around the world. We believe there is real potential for growth in the speciality tea sector of the US market and elsewhere in the world. Good Earth's strong product portfolio means it is well placed to leverage this potential. The experience and skills of Good Earth and Tetley complement each other well and will combine to create a significant new force in the US tea industry."
