May 14 (Bloomberg) — McLeod Russel India Ltd., the world’s biggest tea grower, plans to use rising prices to build a “war chest” of as much as $250 million to acquire companies. The plantation company, based in Kolkata, may buy tea companies in India and Africa as it targets a 50 percent increase in production to 150 million kilograms in three to four years, said Aditya Khaitan, managing director of McLeod Russel. McLeod plans to “wait for the tea cycle to turn and wait for people to exit plantations,” Khaitan said in an interview at his office today. “There is no way for us to grow organically.”
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