Unilever to buy tea brand Tazo from Starbucks for $384 million

Industry: FMCG, Food and beverage    2017-11-04

Unilever (ULVR.L) (UNc.AS) said on Thursday it would buy the specialty tea brand Tazo from Starbucks in a deal valued at $384 million.

This acquisition is the latest in a string of deals by the Anglo-Dutch consumer giant to add smaller, healthier brands to expand its portfolio in a fast-growing specialty tea segment.

“With its strong appeal to millennials, Tazo is a perfect strategic fit for our U.S. portfolio,” Kees Kruythoff, president, Unilever North America said.

Source: Reuters.com