Unilever to acquire Australian premium tea business

Unilever has announced its having entered into a definitive agreement to acquire T2, a premium Australian tea business that wants to enter the world market. T2 generated sales approaching AUS$57 million for the last 12-month period ending June 30 2013.

Kevin Havelock, Unilever president, for Refreshment, said: “T2 is a fast-growing premium tea business with great potential. Unilever is the biggest tea company in the world with brands like Lipton – one of Unilever’s ‘billion-plus’ brands – available in more than 70 countries. 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.”

The current T2 business already operates 40 stores in Australia. Its range of fragrant teas and tea wares from around the world are also sold through some of the best restaurants in the country.

Clive Stiff, Unilever Australasia chairman, added: “Our Lipton and Bushell’s brands are two of Australia’s oldest and best-loved tea brands and tea is a strategically important category for Unilever Australia. We know tea drinkers are increasingly looking for new and diverse tea flavours, so we are delighted to be bringing T2’s premium and exciting range into the fold. T2 is a great Australian success story – a story that we now intend to continue with Unilever.”

T2 founder and managing director Maryanne Shearer commented: “We are delighted that we have found a home for T2 that has such a depth of knowledge of tea and has pioneered sustainability in the industry. Both I and the T2 team are looking forward to working alongside new colleagues in Unilever’s tea business to realise the full potential of the business we have spent the last 17 years building.”

Havelock adds: “Off White X Max 97