Battery manufacturer Eveready Industries India Ltd is looking to spin off its packet tea business in India. The company is planning on launching a new unit for the venture and will align operations with plantation company McLeod Russel India Ltd.
Eveready has also hired former Executive Director Tata Global Beverages, Sangeeta Talwar to advise it on scaling up the business. Eveready tea currently generates Rs.80 crore in annual revenue.
The Rs 10,000 crore packet tea market in India has over 1,000 brands and Eveready’s parent company – the Williamson Magor group – hopes to emerge market leader. The Williamson Magor group is the world’s largest producer of tea.