Unilever Sells Tea Business To Private Equity Firm

CVC Capital Partners is buying the bulk of Unilever’s tea division for €4.5bn after beating off competition from rival private equity groups in an auction.

The business being sold is called ekaterra, which controls a portfolio of 34 tea brands, including Lipton, PG Tips, Pukka Herbs, T2, and TAZO, that generated revenues of €2bn in 2020. It employs around 20,000 people worldwide with 11 production factories in four continents and tea estates in three countries

NamNews Implications:

• NamNews readers are familiar with the PE playbook…
• Rivals can anticipate a new kind of competition in the brands sold off.

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