Rossell India, formerly Rossell Tea, has bought Kharikatia Tea Estate in Jorhat district of Assam, India for an undisclosed sum as per an agreement signed on 06 December 2012.
Kharikatia Tea Estate has a plantation area of 451.9ha and produces 10 lakh kgs of made tea.
With this deal, the total tea estates owned by Rossell in Assam become seven with total production of around six million kgs of black tea per annum.
According to Rossell secretary NK Khurana, almost two thirds of the deal cost would be funded through bank finance and the rest through internal accruals.
Rossell has diverse interests in tea, aviation and hospitality, with tea contributing almost 90% of the company's turnover.
The Kharikatia Tea Estate acquisition is the black tea producer's second in this fiscal and fifth over the last ten years.
Earlier in April 2012, Rossell acquired Namsung tea estate in Assam from Dhunseri Petroleum and Tea.
The company has reported a net profit of around INR190m ($3.5m) on a turnover of close to INR800m ($14.75m) in 2011-12.
