Unilever has sold its global tea business – including T2 – to private equity company CVC Capital Partners, for €4.5 billion ($A7 billion)
The business, called Ekaterra, owns 34 brands including Lipton, PG tips, Pukka, T2 and Tazo and turned over €2 billion ($A3.1 billion) last year. The company has 11 production factories on four continents and tea estates in three countries.
The sale is scheduled to be settled during the second half of next year and is subject to receipt of regulatory approvals. The deal excludes Unilever’s tea business in India, Nepal and Indonesia, as well as its joint venture with Pepsi Lipton covering ready-to-drink teas, and any associated distribution business.
Read more/Source: Inside Retail
