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A proposed tea garden sale by McLeod Russel India, the tea producer from the storied business house of Kolkata, the Brij Mohan Khaitan group, has drawn interest from some reputable players, belying the myriad challenges that the industry often highlights.
In the world of tea, McLeod Russel is a behemoth – its 33 estates in Assam and Dooars (north Bengal) produce about 43 million kg (mkg), making it the largest in the country. The total production with their estates in Vietnam and Uganda stands at about 69 mkg.
The Khaitans, according to industry sources, are looking to offload 13 to 14 of its India estates to finance a one-time settlement (OTS) for its Rs 1,600 crore (principal) debt with banks.
