The object of acquisition is to enhance production, turnover and profitability. Budlabeta and Hapjan tea estate manufacture Black Tea (CTC and orthodox grades).

The acquisition is will be done by cash consideration of Rs 109 crore and is expected to be completed by 31 January 2023.

Dhunseri Tea & Industries is engaged in cultivation, manufacture and sale of tea.

The company reported a 32.1% decline in net profit to Rs 18.15 crore on a 6% fall in net sales to Rs 125.50 crore in Q2 FY23 over Q2 FY22.