Skip navigation

Gloucestershire Business News

Unilever says goodbye to tea brands in £3.8bn deal

Unilever, which has a factory in Gloucester, has sold off traditional tea brands, PG Tips and Brooke Bond.

The company has called time on the traditional cuppa with the £3.8bn deal to sell its tea business to a European private equity firm, as reported by The Guardian.

When the company put the tea business up for sale last year, it said sales of traditional tea were falling, as older tea drinkers were dying off and younger consumers were opting for coffee and herbal teas.

The tea business, which includes the Pukka brand, which Unilever only bought four yeas ago, has been acquired by CVC Capital Partners.

Unilever, which owns household brands including Marmite, Dove and Wall's ice cream, which is manufactured in Gloucester, is said to be focusing more on areas of the market where demand is rising, such as plant-based foods and high-end skincare.

PG Tips was the UK's most popular brew for many years, but recently it has faced tough competition from Twinings, which is owned by Associated British Foods.

Related Articles

Latest coronavirus updates from across Gloucestershire and the UK Image

Latest coronavirus updates from across Gloucestershire and the UK

View the latest data for coronavirus cases and deaths of patients with COVID-19.

Gloucester gets £2.2 million grant for 300 new home scheme Image

Gloucester gets £2.2 million grant for 300 new home scheme

Gloucester is to get 300 new homes on undeveloped land next to St Oswalds retail park which the city council bought two years ago.

Healthy workplaces celebrated Image

Healthy workplaces celebrated

Companies which have focused on health and wellbeing in the workplaces were highlighted at the Healthy Workplaces Gloucestershire celebration last night (December 2).

Gloucester shoe shop shuffle Image

Gloucester shoe shop shuffle

Shoezone in Gloucester is hot footing it round the corner to a new store in the old Top Shop on Eastgate Street.

Copyright 2021 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.