Profitable Acquisitions

Profitable Acquisitions BROOKE BOND INDIA, having come in the Lever fold and under the same chairman, S M Datta, has shown an urge for acquiring going companies. Hindustan Lever is taking over the second largest company in its field, Tau Oil Mills Company. Brooke Bond during 1992 took over Kothari General Foods Corporation under a scheme of rehabilita- tion-cum-amalgamation which was sanctioned by the Board for Industrial and Financial Reconstruction. It has since succeeded in acquiring UB group's Kissan Products by purchasing 10.712 equity shares of Rs 100 each representing 67 per cent of the shaft capital of the company. Meanwhile the boards of Tea Estates India and Doom Dooma India have unanimously approved the proposal for amalgamation of TEIL and DDIL with Brooke Bond with effect from January 1, 1993. The proposal has been approved by the shareholders of the three companies and is awaiting sanction of the High Courts at Calcutta, Madras and Guwahati. The proposed amalgamation is expected to bring in economies in Brooke Bond's operations and accelerate profitable growth.