18.4 C
Wednesday, May 29, 2024

Typhoo turnaround

One of Britain’s oldest tea brands is changing hands in a deal that will allow it to reset and invest in production and staff.

Typhoo Tea has been snapped up by London based private equity firm Zetland Capital after it secured a majority shareholding from the Indian conglomerate Apeejay Surrendra Group.

Typhoo CEO, Des Kingsley, said: “This deal marks a new era in the ownership of Typhoo Tea. It has secured major investment that will enable us to reassert our brands both in the UK and internationally to deliver profitable growth.”

The brand was launched in 1903 by founder John Sumner at his grocery shop in Birmingham. It later moved production to Wirral in the 1970s where it remains today.

The portfolio includes Lift, London Fruit & Herb, Heath & Heather, Ridgways,

Zetland’s move comes 18 months after Typhoo announced plans to cut more than 70 jobs against “the backdrop of an increasingly challenging trading environment”.

Kingsley, however, can now see a bright future ahead. “After a challenging two years, we are pleased that we can now continue with our programme of rebuilding one of the nation’s favourite tea brands. We have plans in place that will result in the creation of new jobs across all areas of the business.”

Related Articles

Stay Connected

  • – Advertisement –

Latest Articles