- April 24, 2019 / 2 min readThe move is in line with TGBL’s ambition to grow its branded tea business in India.
Tata Global Beverages (TGBL) will acquire the branded packet tea business of Dhunseri Tea & Industries for an aggregate consideration of Rs 101 crore. The move is in line with TGBL’s ambition to grow its branded tea business in India.
Dhunseri branded tea business has two brands, including Lalghoda and Kalaghoda, which together make up 5% of the total banded tea market and are market leaders in Rajasthan. The deal doesn’t include Dhunseri Tea’s smaller brands ‘Chhote Lal’ and ‘Dhunseri Gold’, since the two brands have no commercial value.
The acquisition will be helping the company to expand its tea business in regional markets such as Rajasthan.
CK Dhanuka, Chairman of Dhunseri Tea and Industries, said, “The FMCG business (packet tea) is a different ballgame and a plantation is another, we know our strengths. We are on the lookout to buy more plantations in Africa.”
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