Mahindra Buys Stake in The East India Co.

Monday, 24 January 2011

By ANIRBAN CHOWDHURY

MUMBAI — The Mahindra Group has acquired a minority stake in luxury brand The East India Co., both companies said Monday.

The joint statement didn’t give details of the deal.

London-based The East India Co. was established in 1600 to trade in commodities such as silk, cotton and tea, and was responsible for a large chunk of global trade for more than two centuries. It was re-launched last year, as a luxury brand selling high-end food products.

The East India Co. plans to invest $100 million over the next five years, expanding into markets in Asia and the Middle East, it said in the statement.

The Mahindra group owns Mahindra & Mahindra Ltd., India’s biggest sport-utility vehicle maker by sales, and outsourcing company Tech Mahindra Ltd.

Write to Anirban Chowdhury at anirban.chowdhury@dowjones.com

And it comes a full circle! Only a minority stake but the once colonised are now taking back their history!

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