- July 23, 2021
- Posted by: Stratford Team
- Category: Business
LONDON — The pieces are in place for Unilever to spin off part of its tea business. Now company management must decide what form the spinoff will take — initial public offering (IPO), partnership or sale.
“The operational separation of our tea business is now substantially complete,” said Alan W. Jope, chief executive officer, during a July 22 call with analysts to discuss first-half financial results. “We’ve created an attractive stand-alone business with dedicated leadership.”
In July 2020, Unilever said it was divesting a part of its tea business, including the Tazo, Pukka Herbs, T2 and other tea brands. The company plans to continue operating its tea businesses in India and Indonesia and will remain in its joint venture with PepsiCo, Inc., Purchase, NY.
The tea businesses to be spun off employs approximately 3,500 around the world and will have approximately 90 facilities. The company did not provide a sales figure for the new…
