Srinagar: Goodricke Group Ltd, (GGL) India’s largest producer of Darjeeling tea, has entered into an agreement with Godfrey Phillips India (GPI) to drive aggressive expansion into its packaged tea business. The deal will give rights to Goodricke Group on the trademarks, titles and brands associated with the tea business.
These newly acquired brands will help Goodricke deliver on its plan of enhancing the tea culture of India through its packaged tea division. Goodricke has acquired the following brands from Godfrey Phillips- Tea City, SC Gold, Symphony, Samovar, SC Premium, Super Cup, Rangoli and Utsav at a total consideration of INR 20 crores.
With Goodricke’s expertise in the field of manufacturing and packaging, this acquisition will reinforce its position in the business of packaged tea. Goodricke is presently managing a business of 9 million kgs through the FMCG route and it hopes to sustain 14 million kgs by absorbing GPI’s brands, distributions and operations. J&K, Punjab, UP , Bihar, Rajasthan and Himachal Pradesh are some of the key markets for this. 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.”