Tata Tea takes 33% in S African firm
The Tetley Group, a Tata Tea subsidiary, has signed an agreement to acquire 33 per cent in South African Joekels Tea Packers.
According to the deal, Joekels will have the licence to sell Tetley branded products in South Africa, Namibia, Botswana, Lesotho and Swaziland. Tetley will use the factory in Pinetown, KwaZulu Natal province, for the products.
Joekels is the third-largest player in the South African tea market with a 5 per cent market share and a turnover of $5 million.
“This acquisition is yet another development in our plan to grow the Tata group’s tea business around the world. It established a presence for Tetley in South Africa and some of its neighbouring countries. Joekels is a successful, well-run company and we anticipate that with their entrepreneurial spirit and this new investment from Tetley, Jonathan and Joe will be able to accelerate Joekel’s growth,” said Ken Pringle, executive vice-chairman and chief executive officer of The Tetley Group and director of Tata Tea.
Joekels Tea Packers is owned and run by Jonathan Kelsey and Joe Swart, who founded it in 1994.
Joekels manufactures and sells a strong portfolio of brands spanning the economy and mainstream tea sectors.
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