Eveready to form a joint venture with McLeod Russel India for development of packet tea business

Eveready today said it plans to enter into a joint venture with tea growing firm McLeod Russel India for development of the packet tea business through a separate entity.

Eveready, Eveready news, Eveready joint venture, Eveready jv, Eveready joint venture with McLeod Russel India, McLeod Russel India, McLeod Russel India news, packet tea business
Eveready is into the business of dry cell batteries and also markets LED, CFL, and other lighting products, packet tea and small home appliances. (Representative Image: Reuters)

Eveready today said it plans to enter into a joint venture with tea growing firm McLeod Russel India for development of the packet tea business through a separate entity. “The company will initiate discussion with McLeod Russel India Ltd for participating in a joint venture as a strategic business partner for development of the packet tea business through a separate entity,” Eveready Industries India said in a statement. Both the companies belong to the Williamson Magor Group and the alliance is subject to all necessary approvals.

You may also like to watch:

The joint venture, if finalised, will bring their skills of marketing and distribution to focus and develop the packet tea business. The company said the alliance will enable McLeod to have direct access to the Rs 10,000 crore packet tea market. Eveready is into the business of dry cell batteries and also markets LED, CFL, and other lighting products, packet tea and small home appliances.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.