Mumbai : Tata Global Beverages has entered into a non-binding term sheet to acquire the branded tea business of Dhunseri Tea & Industries, for an aggregate consideration of up to Rs 101 crore. The branded tea business of Dhunseri Tea and Industries is presently carried out under the brands ‘Lalghoda’ and ‘Kalaghoda’ which are among the leading local brands in Rajasthan, a market which is dominated by local players.
The proposed acquisition shall be subject to due-diligence, signing of definitive binding agreements and applicable shareholder, statutory/ regulatory and other third-party approvals, as may be applicable.
Tata Global Beverages is a global beverage business with a brand presence in over 40 countries. The company has significant interests in tea, coffee and water and is the world’s second largest tea company.