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McLeod Russel eyeing tea plantations in Africa

Category :India Sub Category :National,Business
2009-07-28 00:00:00
   Views : 346

Kolkata, July 28 - The world's largest tea producer, McLeod Russel India is eyeing plantations in Africa, a top company official said here Tuesday.

'Logically, I would love to go to Africa because it is god's country for tea. The first focus will be Kenya. Once we go there, we will start looking for opportunities,' said company managing director Aditya Khaitan.

The acquisitions will add around 5-10 million kg to McLeod Russel's total production, Khaitan told reporters on the sidelines of the company's annual general meeting.

Asked how much the company would have to shell out for these acquisitions, he said it would be at least around $10 million. 'We want to go wherever we can to add value. We have to grow by acquisition.'

In 2005, McLeod Russel acquired Williamson Tea Assam from the London-based Magor family, which founded a partnership firm, Williamson Magor in India in 1869.

Two years later, it acquired Doomdooma Tea Co from Hindustan Unilever and Britain's Moran Holdings of Britain in 2007.




Author :Indo Asian News Service



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