With Goodricke has experience in the field of manufacturing and packaging, this acquisition will reinforce its position in the business of packaged tea
One of the leading Darjeeling tea producer Goodricke Group Ltd, (GGL) has entered into an agreement with Godfrey Phillips India (GPI) to acquire the latter’s packed tea brands like Tea City, Sc Gold, Symphony, Samovar, SC premium, Super Cup and utsav at a Rs 20 crore.
In a statement released by GGL said “the deal will give GGL the rights on the trademarks, titles and brand associated with tea business. These newly acquired brands will help Goodricke deliver on its plan of enhancing the tea culture of India through its package tea division.
With Goodricke has experience in the field of manufacturing and packaging, this acquisition will reinforce its position in the business of packaged tea. Goodricke is currently managing a business of 9 million KGS through the FMCG route and it hopes to sustain 14 million KGS by absorbing GPI brands distribution and operation.
Mr. A.N Singh, CEO & MD, Goodricke Group Ltd, said, “This acquisition will bring synergy to our branded tea business and help us integrate all channels and develop this department further.”