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Goodricke Group Ltd (GGL), leading Darjeeling tea producer has entered into an agreement with Godfrey Philips India (GPI) for acquiring latter’s 8 packed tea brands.
GGL will acquire Tea City, SC Gold, Symphony, Samovar, SC Premium, Super Cup, Rangoli and Utsav for a total consideration of Rs.20 crore.
As per GGL, the deal will give GGL the rights on the trademarks, titles and brand associated with the tea business.
Mr. A.N Singh, CEO & MD, Goodricke Group Ltd, stated,”This acquisition will bring synergy to our branded tea business and help us integrate all channels and develop this department further.”
