McLeod Russel buys Rwandan tea factory
McLeod Russel, the world's largest tea producer, has purchased a controlling stake in Gisovu Tea Company via its UK arm. The Rwandan tea company has an annual output of 1.7 million kilograms of tea, which would bring McLeods annual production capacity close to 82 million kg. Borelli Tea Holdings Ltd, a wholly-owned subsidiary of McLeod Russel in the UK, will pay $2.75 million for a 60% stake in the company, with the rest of the shares owned by the Rwandan government and local co-operatives.