Marking a significant development in the packet tea business in India, Madhu Jayanti International Limited announced the acquisition of the packaged tea brands –Tez Premium, Tez Red, Premium Gold and Jaago of Eveready Industries India Limited (EIIL) at Rs. 6 crores. This aligns with Madhu Jayanti International’s mission to become a National player from its current stature of a Regional Player Madhu Jayanti International a tea company which currently has been focusing largely on international markets, has been eyeing consistently for opportunities to expand its base in Indian Packet Tea Market.
The company launched two new brands TE-A-ME teas (Pan India – 2014), Sphoorti (Maharashtra – 2018) on the back of its existing packet tea brands (Saraswati Tea and Lalpan tea) which were sold in Karnataka and Maharashtra. Now with this acquisition of Eveready brands of Tea, the company is steadily moving ahead with its agenda of graduating from a regional player to a pan India player.
Commenting on the acquisition, Sumit Shah, Executive Director, Madhu Jayanti International Limited said that, “We consistently look for opportunities to better serve our growing customer base and expanding our market reach. With the acquired brands we plan to strengthen our packet tea business and our brand portfolio to reach newer markets. This acquisition will expand our footprint into 14 tea consuming markets in India. Our 75 years of rich legacy in producing fine teas and rare expertise in understanding India’s regional specific taste profiles will be effective to take the acquired brands to a whole new level.”
Jaago and Tez Red are economy brands satisfying customers’ need for strong cup of tea at a reasonable price point. Whereas Premium Gold & Tez Premium are mid-premium brand targeted for customers who have an inclination for strong tea, needs good colour and aspires for aroma. Kolkata-based, Madhu Jayanti International Limited is India’s leading manufacturer and exporter of value-added teas. Along with their export operations, Madhu Jayanti also has 3 premium priced regional (Karnataka and Maharashtra) packet tea brands (Saraswati, Lalpan, Sphoorti) and a national tea bag brand (TE-A-ME Teas). Eveready Industries India is one of country’s notable consumer company having interest in batteries, flashlights, lighting, packet tea and appliances.
Eveready’s packet tea brands cater to the lower economy and economy segment of the market. Furthermore, Eveready’s brands are present more in the rural market, while Madhu Jayanti International’s current distribution is limited to the urban and semi-urban population of the country. The EIIL’s packaged tea business operates in 29 states of India – including top contributing 14 states of Bengal, Bihar, Jharkhand, Odisha, Uttar Pradesh, Uttaranchal, Madhya Pradesh, Chhattisgarh, Rajasthan, Punjab, Himachal, Gujarat, Maharashtra and Karnataka. Madhu Jayanti International is over seven decades old and has expertise in sourcing, blending and packaging teas.
The acquisition of EIIL’s tea brands will help transform Madhu Jayanti International from regional packet tea player (Maharashtra and Karnataka) to a formidable national tea company. The acquisition will help Madhu Jayanti International to take its mid premium and premium brands to newer markets by harnessing on the EIIL’s robust distribution channel.
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