Goodricke adds two big gardens to Assam portfolio
Tea production heavyweight Goodricke Group is in the process of acquiring two tea plantations in upper Assam to increase output in the region. The deal represents about 2 million kilograms of tea per year for a purchase price of approximately $15 million. Goodricke has been considering acquisitions in Assam for some time now in order to diversify production and because the region benefits from better price realization than others. The company oversees 17 gardens in India, with the majority located in the Dooars region, and several in Darjeeling, including Thurbo, Castleton and Margaret's Hope estates. Last year, Goodricke produced 22,000 tons of tea and expects to reach 25,000 tons this year, thanks to a combination of new plantations and organic growth.