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The company hopes to add four to five million kg of tea in its annual production following the acquisition.
"We are looking to acquire gardens in Assam to add four to five million kilogramme to tea annually," Managing Director of Goodricke A N Singh told reporters.
The cost of acquiring the gardens would be between Rs 200 crore to Rs 250 crore, said Singh adding the company was also looking at expanding the packet tea segment.
Goodricke entered into a tie-up with Rainforest Alliance for certification of its products to ensure quality. Rainforest Alliance, a New York-based NGO, would certify the teas produced by Goodricke based on social, environment and farm management parameters. Singh said that it was a part of Goodricke's CSR activity to showcase the company's ethical standard of production at the garden level.
It would also take care of Maximum Residue Level (MRL) of pesticides in tea produced at the company's estates, Singh said.
A total of 15 Goodricke gardens in Assam and Darjeeling are certified by Rainforest Alliance, he said.
