McLeod Russel India will initiate discussion with Eveready Industries India for participating in a joint venture (JV) as a strategic business partner for development of packet tea business through a separate entity. The board of directors of McLeod at its meeting held on May 30, 2017 has approved for the same. The board of directors of McLeod at its meeting held on May 30, 2017 deliberated on the strategic roadmap for the company’s participation in a joint venture with Eveready Industries India for development of packet tea business.
Eveready and McLeod will bring their respective skills of marketing & distribution and tea plantation knowledge to focus and develop the packet tea business to a much higher level. Both McLeod and Eveready belong to the Williamson Magor Group and the strategic alliance is subject to all necessary approvals.
McLeod is the world’s largest tea plantation company in private sector. This will enable the company to have direct access to the Rs 10,000 crore packet tea market. Eveready is a consumer goods company with a large distribution reach. This alliance will enable it to upscale its FMCG operation.