Warren Tea to exit plantations, plans expansion of IT and hotel businesses

Signs deal with Dhunseri group for the last four estates it currently owns

Warren Tea, which traces its lineage to the 1850s, is getting out of the tea plantation business. The Vinay Goenka-led firm has signed a memorandum of understanding (MoU) with the C K Dhanuka-promoted Dhunseri group to sell its remaining four estates in Assam.

Goenka plans to focus on more remunerative businesses in the group, such as IT and hospitality.

“We have had the plantation business since 1983 and it has been stable. But we want to focus on our IT and hotels businesses, where the return on investment (RoI) is better. So, getting out of plantations was purely a business decision,” Vivek