Regency Teas buys 10% stake in Hatton Plantations for Rs. 290 m

Friday, 18 December 2020 00:10 - - {{hitsCtrl.values.hits}}

Regency Teas Ltd. yesterday bought 10% of Hatton Plantations for Rs. 290 million.

The stake amounting to 29,065,923 was bought at Rs. 10 each.

Regency Teas is a company established in 1997, engaged in value added tea exports to over 35 destinations worldwide. On the manufacturing front, the company operates a state-of-the-art production facility of 90,000 square feet with modern infrastructure, tea packaging machinery and highly-skilled staff.

The packing facility is certified with GMP, HACCP, ISO 22000, FSSC 22000, GFSI systems certifications and has the capability to pack teas under USDA Organic, EU Organic, Halal, Kosher and Rainforest Alliance product certifications.

Annually the factory produces 2,000 metric tons of tea in value added form under strict food safety management systems and guidelines.

Regency Teas has the capacity to produce 90 million tea bags per month and is equipped with the latest European staple-free tea bagging machines.

This strategic investment in the form of backward integration into the tea plantation sector is expected to bring value to both Regency Teas and Hatton Plantations.