The state-owned Balmer Lawrie & Co Ltd is planning to sell its tea-blending unit in the United Kingdom and eyeing acquisition of a logistics company, Managing Director S K Mukherjee said here on Tuesday.

The company has already hired SBI Capital Markets Ltd for advising it on the sale of the 24,000 square ft unit, Mr Mukherjee told reporters on the sidelines of company’s 90th annual general meeting.

“We  intend to wrap up the entire process by  October,” he said, adding that the company was not competitive in the market leading to the decision to exit.

There has been an attempt to acquire a logistics firm with required expertise in exports segment, Director P Radhakrishnan explained.