Unilever Sells Ekaterra Tea Business to CVC Capital for EUR4.5 Billion
18 Novembro 2021 - 2:07PM
Dow Jones News
By Joe Hoppe
Unilever PLC said Thursday that it will sell its global tea
business ekaterra to CVC Capital Partners Fund VIII for 4.5 billion
euros ($5.09 billion) on a cash-free, debt-free basis.
The Anglo-Dutch consumer-goods group said that ekaterra--which
has a portfolio of 34 brands, including Lipton, PG tips, Pukka, T2
and TAZO--generated revenue of around EUR2 billion in 2020.
The transaction is expected to be completed in the second half
of 2022, subject to completion of works council consultation
processes and the receipt of certain regulatory approvals.
The deal also excludes Unilever's tea business in India, Nepal
and Indonesia, as well as its interests in the Pepsi Lipton
ready-to-drink tea joint ventures and associated distribution
businesses.
"The evolution of our portfolio into higher growth spaces is an
important part of our growth strategy for Unilever. Our decision to
sell ekaterra demonstrates further progress in delivering against
our plans," Chief Executive Alan Jope said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
November 18, 2021 11:52 ET (16:52 GMT)
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