Upgrade Now

Unilever nearing deal to sell tea business to CVC Capital - report

By Michele Maatouk

Date: Thursday 18 Nov 2021

Unilever nearing deal to sell tea business to CVC Capital - report

(Sharecast News) - Private equity firm CVC Capital Partners is reportedly close to buying Unilever's tea business, which includes the Lipton and PG Tips brands.
According to Bloomberg, CVC has reached an agreement with the consumer goods giant after beating out rival private equity bidders including Advent International. Sources told Bloomberg the deal is set to value the business at around €4.5bn.

It was understood the sale could be announced in the coming days.

Unilever announced a strategic review of its global tea business in January last year, saying it was considering options including a spinoff and partial or full sale.

..

Email this article to a friend

or share it with one of these popular networks:


Top of Page