The deal will give rights to Goodricke Group on the trademarks, titles and brands associated with the tea business.
"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 Rs 20 crore," it said in a statement.
With the expertise in manufacturing and packaging, the tea producer's position in packaged tea will be reinforced by this acquisition.
"This acquisition will bring synergy to our branded tea business and help us integrate all channels and develop this department further," said Goodricke's CEO A.N. Singh.
The company is presently managing a business of 9 million kgs through the FMCG route and hopes to sustain 14 million kgs by absorbing GPI's brands, distributions and operations.
Jammu and Kashmir, Punjab, UP , Bihar, Rajasthan, and Himachal Pradesh are some of the key markets for the company.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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