Typhoo Rescued from Administration by Supreme
Deal News | Dec 04, 2024 | Mills and Reeve
In a strategic acquisition, Supreme, a prominent manufacturer and supplier of fast-moving consumer goods, has purchased the historic tea brand Typhoo Tea, rescuing it from administration. The acquisition, valued at £10.2 million, includes Typhoo's extensive range of brands such as QT, Lift, Herbalists, and others. Typhoo went into administration on November 27, placing the 121-year-old brand's future in peril. Supreme, listed on the London Stock Exchange, aims to leverage its robust supply chain and distribution network to revitalize Typhoo, aligning it with its broader diversification strategy. CEO Sandy Chadha expresses long-standing personal affinity and belief in Typhoo's growth potential under Supreme's resources. Legal advisory for the acquisition was provided by Mills & Reeve, with a team led by partners Stephen Hamilton and Neil Smyth. This acquisition underlines Supreme’s commitment to expanding its brand portfolio and strengthening market presence.
Sectors
- Consumer Goods
- Food & Beverage
- Legal Services
Geography
- United Kingdom – Typhoo Tea is a historic UK brand, and Supreme is a London-listed company with operations significantly impacting the UK market.
Industry
- Consumer Goods – Supreme is a manufacturer and supplier of fast-moving consumer goods and Typhoo Tea is a well-known consumer brand in the tea market.
- Food & Beverage – The acquisition involves Typhoo Tea, a significant brand in the beverage sector, along with other related beverage brands.
- Legal Services – Mills & Reeve provided legal services for the acquisition deal.
Financials
- £10.2 million – Purchase price paid by Supreme for Typhoo Tea.
- £20 million – Annual revenue generated by Typhoo Tea in the year to September 30.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Supreme | Buyer | Company | A leading manufacturer and supplier of fast-moving consumer goods, aiming to expand through the acquisition of Typhoo Tea. |
| Typhoo Tea | Target Company | Company | A historic UK tea brand that was in administration prior to its acquisition by Supreme. |
| Mills & Reeve | Legal Advisor | Company | Provided legal advisory services to Supreme for the acquisition deal. |
| Sandy Chadha | CEO of Supreme | Person | Chief Executive Officer of Supreme who commented on the acquisition's strategic importance. |