Typhoo Tea Secures £10.2 Million Rescue Deal from Supreme PLC to End its Administration Crisis in Britain

Typhoo Tea, the UK’s oldest tea company, has been saved from financial collapse, thanks to a rescue deal by Supreme PLC, a company best known for its work with vapes and batteries.

The historic tea brand, which has been around for over 121 years, had filed for administration last Wednesday, putting its future in jeopardy.

This came after years of declining sales, increasing debt, and even a break-in at its Wirral factory last year.

A Lifeline from Supreme

Supreme PLC stepped in with a much-needed solution.

Last week, the company confirmed it was in talks to acquire Typhoo, and on Monday, they finalized the deal.

Supreme will pay £10.2 million to purchase Typhoo, which includes £7.5 million of stock and trade debts.

This deal marks a turning point for the historic tea brand and secures its future.

Strategic Shift for Supreme

The acquisition of Typhoo is part of Supreme’s broader strategy to move away from its traditional vaping business and expand into new areas.

Earlier this year, Supreme also acquired Clearly Drinks, a soft drink company, for £15 million.

With increasing regulation on disposable vapes in the UK, Supreme is now focusing on diversifying its portfolio, and Typhoo is a perfect fit for that vision.

Sandy Chadha, CEO of Supreme, expressed his excitement about the acquisition, stating that Typhoo is an iconic British brand that will thrive under Supreme’s ownership.

With Supreme’s proven track record in building brand loyalty and expanding market reach, Chadha believes Typhoo will benefit greatly from the support.

Future Growth and Opportunities

Typhoo’s acquisition presents exciting possibilities for both Supreme and the tea brand.

By adding Typhoo’s popular range of tea products to its portfolio, Supreme aims to create cross-sell opportunities and push for product innovation.

This will also open doors to partnerships with UK retailers, further strengthening their position in the market.

Having pioneered pre-packaged tea in the UK back in 1903, Typhoo is a brand with deep roots in the nation’s tea culture.

With Supreme at the helm, Typhoo is poised for a fresh start, ready to take on new challenges and opportunities.

This article was published on TDPel Media. Thanks for reading!

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