date:Nov 23, 2021
Unilever has entered into an agreement to sell its global Tea business, ekaterra, to CVC Capital Partners Fund VIII for 4.5 billion on a cash-free, debt-free basis.
ekaterra has a portfolio of 34 brands including Lipton, PG tips, Pukka, T2 and TAZO. The business generated revenues of around 2 billion in 2020.
Alan Jope, CEO of Unilever, said: The evolution of our portfolio into higher growth spaces is an important part of our growth strategy for Unilever. Our decision to sell ekaterra demonstr