Inputs from Mini Joseph Tejaswi , TNN
Daijiworld Media Network – Bangalore (NR)

Bangalore, Nov 3: According to industry sources, a mega deal has been clinched by coffee magnate V G Siddhartha the head honcho of Amalgamated Bean Coffee Trading Company (ABCTC) which runs the famous chain called the ‘Café Coffee Day”. The company has purchased 1,400 acres of coffee plantations from the Chennai-based Southern Petrochemical Industries Corporation (SPIC) group at an estimated cost of around Rs.140 crore. The plantation is located on the Mangalore-Sakleshpur highway in the state.

Industry experts say that this makes Siddhartha the largest individual coffee plantation owner in Asia with a holding of around 10,000 acres, in addition to 5,000 acres of coffee plantations in the state already owned and run by the company. Siddhartha with an eye on expansion is believed to be scouting for more coffee estates across Karnataka.

The newly acquired coffee estate grows predominantly the robust coffee variety and employs 500 people. Over 70% of the estate is in good condition and more investments will be made to develop it fully. The company has plans to invest all its money and energies in coffee retailing and plantation development in order to expose its brand across India and abroad, with a target of opening 1,000 ‘Café Coffee Day’ outlets in India by 2009, industry sources here disclosed.

Further sources within the company informed that ‘Cafe Coffee Day’ is expected to have 500 outlets by the end of 2007. It already has over 6,000 vending machines installed in the premises of 1,200 corporates, and 400 ‘Fresh n’ Ground’ outlets that sell 3,000 tonnes of soluble coffee of various flavours.