Tata Consumer, Hindustan Unilever in talks to buy tea major Girnar

Deal could be valued at Rs 1,000-1,500 crore

Top consumer product companies Hindustan Unilever (HUL) and Tata Consumer Products, among others, are believed to be in the race to acquire Girnar Food & Beverages, the Gujarat-based tea major, at a valuation of Rs 1,000-1,500 crore.

The discussions, however, are at an initial stage, according to two sources aware of the developments.

Viduit Shah, executive director at Girnar Food & Beverages, told Business Standard, “As a matter of company policy we do not comment or respond to speculation.”

He added that the firm was family owned and the promoters were committed to building the business. “Investment bankers approach us periodically to evaluate