Uganda

The world’s largest producer of tea, Kolkata-based McLeod Russel, has paid US$30 million for James Finlay Uganda (JF). The deal will see McLeod Russel taking control of Rwenzori Tea, a wholly-owned JF company, and its six tea estates. JF produces 15 million kg of tea worth about US$30 million annually.

The move is in line with McLeod Russel’s announcement that it was seeking to expand its production beyond India’s borders to account for up to 30% of its total production over the next five years.

McLeod Russel currently manages 47 tea estates in Assam and six tea estates in West Bengal.