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- Earnings accretive acquisition of Typhoo Tea
- £10.2mn consideration includes £7.5mn of stock and trade debtors
- Non-vape products now account for half of group revenue
Supreme (SUP:175p), a manufacturer that counts B&M, Home Bargains, Poundland and the major supermarket chains as customers, is acquiring the trade and selected assets of Typhoo Tea out of administration. Supreme expects the integration of the business to proceed without disruption to existing operations or customer service levels.
Established in 1903, Typhoo Tea was the first pre-packaged tea brand in the UK, and has expanded its product offering from traditional black and decaffeinated black teas to include white and lemon instant flavours, herbal and fruit tea infusions. The business also offers a selection of coffees across a portfolio of brands.