Tata Global Beverages Ltd (TGBL) said Tuesday it will acquire the branded tea business of Dhunseri Tea & Industries for an aggregate consideration of Rs 101 crore.
The acquisition would help the company expand its tea business in regional markets like Rajasthan.
It had entered into a non-binding term sheet to acquire the branded tea business of Dhunseri Tea & Industries.
Dhunseri branded tea business has two brands -- Lalghoda and Kalaghoda - which are among the leading local brands in Rajasthan, a market dominated by local players.
"The proposed acquisition shall be subject to due-diligence and applicable approvals," said TGBL in a statement.
According to the company, "this move is in line with TGBL's ambition to grow its branded tea business in India."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app