TGBL to acquire Dhunseri's branded tea biz for Rs 101 cr
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."
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