 "Brewing flavours into your regular cuppa")
With flattish growth in its packet tea business for nearly a decade, Kolkata-based Eveready Industries has decided to turn this business into a company subsidiary. And, is looking for a joint venture partner to invest in the to-be-formed entity.
Sources said the new partner could be McLeod Russel, largest tea producer in the world. Both Eveready and McLeod Russel belong to the Khaitan family-controlled Williamson Magor Group. McLeod Russel holds 2.29 per cent direct stake in Eveready. Amritanshu Khaitan, managing director, said the decision to hive off the packet tea business into a separate company subsidiary, based primarily on branding requirements.
