Lipton and Bushells brand owner Unilever will acquire Australian tea retailer, T2.
T2 sells a range teas and tea wares from around the world through its 40 stores as well as through cafes and restaurants.
Though Unilever did not disclose the terms of the deal, the company said T2 generated sales of almost $57 million in the 12 months to June 30.
“T2 is a fast growing premium tea business with great potential,” said Kevin Havelock, Unilever president for refreshment.
“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,” he said.
T2 founder and managing director Maryanne Shearer applauded Unilever's depth of knowledge of tea and its sustainability credentials.
“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,” she said.
Unilever Australasia chairman Clive Stiff said tea was 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,” he said.
