Poabs Group acquires Ram Bahadur Thakur Group estates ?

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http://www.livemint.com/2008/08/28231350/Kerala8217s-organic-coffee.html


Posted: Thu, Aug 28 2008. 11:13 PM IST
Kerala’s organic coffee exporter on tea estate buying spree
The tea estates were put up for auction about two months ago after RBT failed to make its contribution to the workers’ provident fund accounts
Ajayan
        
Kochi: Kerala-based Poabs Group, which made a mark internationally with its organic coffee exports, is making a big push for the tea business. The group has acquired six tea estates and is in final negotiations for the takeover of three more. The estates, which belonged to the Ram Bahadur Thakur Group (RBT), are located in the Idukki district of Kerala and have been closed for more than five years.

The acquisitions come a year after the Kerala government took over the 351.36-acre organic coffee estate managed by Poabs in the Nelliampathy hills in Palakkad district on the expiry of its lease.

The tea estates were put up for auction about two months ago after RBT failed to make its contribution to the workers’ provident fund accounts. The dues have been paid now and around 3,000 workers have begun work on the estates, said Thomas Jacob, chief executive officer of Poabs. Plucking of tea leaves was in progress and leaves were being sold locally to tea factories. The group has spent Rs76 crore on the acquisitions so far, he added.