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Supreme, a UK-based consumer goods company, has bought Typhoo Tea out of administration.
The rescue was agreed in a deal worth £10.2 million, according to The Guardian.
The acquisition ensures Typhoo’s continued presence in UK and international markets while keeping the brand under British ownership.
Founded in 1903, Typhoo entered administration last month, putting its future and associated brands at risk. Supreme’s acquisition secures Typhoo and its portfolio, including QT, Lift, Herbalists, Heath & Heather, London Fruit & Herb Company, Glengettie, Melrose’s, Ridgeways, Red Mountain Coffee and Fresh Brew.
Supreme plans to revitalise Typhoo by using its supply network to reduce costs and ensure steady product availability, helping the brand recover.
Supreme CEO Sandy Chadha said: "Typhoo is such an iconic brand, and with Supreme’s distribution network and resources, we have the scope to grow and develop it".
“The acquisition of Typhoo Tea marks a significant step in our broader diversification strategy and brings one of the most iconic UK consumer brands into the Supreme family. I believe Typhoo will thrive under our ownership, further benefitting from Supreme’s significant market reach and successful track record in creating brand loyalty, making us an ideal fit for this business."
“We are very excited about these latest additions to our portfolio, which mean we can serve our existing customers even better and get acquainted with many new ones.”
#TyphooTea #Supreme #UK
