Indian company to buy British tea firm Typhoo-paper

By agencies   |   Wednesday, 28 September 2005, 07:00 Hrs
Printer Print Email Email
MUMBAI: Kolkata based Apeejay Surrendra group is close to acquiring British tea brand Typhoo for less than 100 million pounds, the Times of India newspaper reported today.

Typhoo is Britain’s third-biggest tea brand after Unilever’s PG Tips and Tata Tea's Tetley. Apeejay group, which has interests in plantation, hospitality and bookstores, did not comment.

The acquisition would be funded through a mix of equity and debt, and private equity funds had invested about 17 million pounds, the paper said.

The world’s second largest tea company, Mumbai based Tata Tea bought Tetley for $432 million in 2000.

SPOTLIGHT
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..