McLeod Russel to acquire tea processing unit in Vietnam for Rs 12.56 crore

KOLKATA: Kolkata-based tea plantation firm McLeod Russel India is acquiring a tea processing unit in Vietnam for around Rs 12.56 crore inclusive of VAT. The deal to buy out Ngoc Hai Company’s factory in Doan Hung district, Phu Tho Province, Vietnam, has been routed through its step down company, Phu Ben Tea Company. The unit has an annual production capacity of 1.2 million kgs.

An agreement in this regard was signed between the seller and buyer on June 25, 2014, the company said in a filing to the bourses.

Incidentally, this is the company’s second acquisition in Vietnam this year. Earlier in March, it acquired a tea processing unit in Vietnam for a little over Rs 5 crore.