UK: Supreme plc acquires Typhoo tea brand from administrators

Supreme plc, the diversified consumer goods supplier, has announced the acquisition of the Typhoo tea brand from administration in a £10.2 million ($12.95 million) deal.

Founded in 1903, Typhoo was the UK’s first pre-packaged tea brand but succumbed to administration in November as a result of falling sales and rising debts.

As part of the acquisition, Supreme plc will acquire brands includeing QT, Lift, Herbalists, Heath & Heather, London Fruit & Herb Company, Glengettie, Melrose’s, Ridgeways and Red Mountain Coffee.

Commenting on the deal, Supreme CEO Sandy Chadha said: “The acquisition of Typhoo Tea Ltd 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”, he added.

In a statement, the company said it intended to turn Typhoo’s fortunes around by using its efficient supply network to lower costs.

Source: Supreme plc / ESM