Luxmi group buys Darjeeling's iconic Makaibari estate
India's Luxmi tea group has acquired Darjeeling's only remaining family owned estate. The owner of the estate, Rajah Banerjee, who's great-grandfather founded the plantation and set up the world's first tea factory in 1859, sold off a 90% stake in the company, but will remain the face of the plantation and will continue to manage its operations. Luxmi group, which owns numerous estates in Assam, Tripura, Dooars and Terai regions of India and produces over 15 million kilograms of tea per year, plans to capitalize on the rich legacy of the estate and expand the brand at home and abroad. The deal is valued in excess of $3 million. Makaibari produces more than 100,000 kilograms of tea annually.