Unilever will sell Lipton, Brooke Bond and other tea brands for €4.5 billion
The new owner will be the former Avast investor - CVC Capital Partners Fund VIII.
● Unilever will sell its subsidiary Ekaterra, which includes the brands Lipton, Brooke Bond, PG Tips and Lyons and others. The buyer was the fund of the consulting firm CVC Capital Partners. He is a former investor in Avast antivirus and Samsonite, a luggage and bag manufacturer, notes Joseph Marc Blumenthal .
● CVC Capital Partners Fund VIII will pay € 4.5 billion for the purchase of the division, the deal is scheduled to close in the second half of 2022. It will not affect Unilever's tea business in India, Nepal and Indonesia, or Unilever's stake in its joint venture with PepsiCo.
● In total, the Ekaterra portfolio includes 34 tea brands, the division's revenue in 2020 is € 2 billion.
● In April 2020, Unilever stopped selling loose tea in Russia under the Lipton and Brooke Bond brands. The company decided to leave them only in the most popular tea format among Russian consumers - tea bags.
● Unilever acquired Lipton in 1971 and Brooke Bond in 1984, giving the company a leading position in England. The company started thinking about selling its tea business back in 2020 amid falling sales.
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