Anglo-Dutch consumer goods giant Unilever has bought premium tea brand T2 from its Australian founder Maryanne Shearer for an undisclosed sum.
T2 has 40 stores and has been operating for 17 years. It generated $57 million in sales in the 12 months to 30 June 2013.
Unilever Australasia chairman Clive Stiff said tea was a “strategically important category” for the company, which also counts Lipton and Bushells among its brands.
“Unilever is the biggest tea company in the world with brands like Lipton … available in more than 70 countries,” Unilever president for refreshment Kevin Havelock said.
“This will allow us to bring the benefits of scale and access to new markets to the T2 business and for both businesses to share tea category expertise.
“This deal will also bring a premium tea business to complement our portfolio that we can leverage in a similar way to other recent Unilever acquisitions.”
T2 founder Shearer said she and her staff would work with Unilever to continue growing the business. Unilever has 173,000 staff globally and generated annual sales of over €50 billion ($72 billion) in 2012.
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