Good cast iron cookware is a frugal investment. It can last more than a lifetime and only gets better with age, provided it is cared for. It is at it's best when used regularly.
That said, there's a lot of knock-off cast iron out there. That this is an in-house version most likely means it was made by a non-standard foundry, probably somewhere in Asia, and imported in under the Tesco name. That doesn't mean it is no good, but that it is suspicious. There have been some serious quality contol issues with cast iron cookware coming from China and third world countries. Not all of it is bad, but I've seen some real junk, unhealthy junk, imported here that was essentially unusable.
Cast iron cookware should be of uniform thickness and fairly pure. Some of it coming from China was poorly cast, and they've been known to use lead to fill in casting flaws, which will infiltrate the food you cook in it.
If you know what to look for, you can find some pretty good deals. I've opened a dozen or more cartons of cast iron pots and pans at Costco in order to find one set that meets my standards. For those who aren't as experienced as me, I suggest the basic caveat, "You (usually) get what you pay for." Sometimes even the big expensive guys like Lodge will have a screw up. Fortunately, they stand behind their product, and they've always done right by me.
Sorry to say, I am unfamiliar with Tesco's version. IMHO, investing in good quality cast iron cookware is a smart thing, and if you can find a good deal on some that is even better. Hope it works for you, if you decide to get it.
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The ultimate result of shielding men from the effects of folly is to fill the world with fools.
-- Herbert Spencer, English Philosopher (1820-1903)