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Khaitan, PDS Legal act on $0.9m Eveready sale of tea biz to Madhu Jayanti

The ₹390-crore Madhu Jayanti International, which is primarily into the manufacture and export of value-added teas, is looking to ramp up its domestic business with its recent acquisition. The company acquired Eveready’s packet tea business and its brands — including Tez Red, Premium Gold and Jaago — for ₹6 crore. The combined sales volume of these three brands is estimated to be close to 3.8 million kg (mkg), and the value is pegged at around ₹68 crore.

Hindu Business Line

Khaitan & Co advised Eveready Industries India Limited led by a team of partner Padam Kumar Khaitan, senior associate Shourya Sengupta and associate Sneh Lata with assistance from partner Shailendra Bhandare and senior associate Sourav Dan on the IP aspects.

Update 12 July 2019: PDS Legal advised Madhu Jayanti International Private Limited led by a team including partner Probal Bhaduri, principal associate Nishant Arora, senior associate Nitin Sharma and associate Tanisha Gupta.

2019-07-04

Deal value: INR 6 Crores plus additional consideration for tea products and related inventor

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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