Goodricke Group to Sell Historic Chulsa Tea Estate for ₹181.1 Million

Goodricke Group Limited has announced plans to sell its Chulsa Tea Estate for ₹181.1 million, signing a Memorandum of Understanding (MoU) for the transaction. Located in the Dooars region of West Bengal, Chulsa is renowned for its picturesque setting and high-quality CTC tea production. The estate, bordered by the Murti river and Upper Tondu Forest, has been part of Goodricke's portfolio since the company's incorporation in 1977. Featuring a state-of-the-art factory commissioned in 1994, Chulsa has been a significant asset for Goodricke. This strategic divestment aligns with the company's ongoing efforts to optimize its tea garden portfolio and focus on core business objectives.

Sources: Goodricke Official Website, Business Standard, BSE India