Typhoo Tea Ltd has welcomed on board Zetland Capital, a London based Private Equity firm, which has taken a majority shareholding in the company. Current shareholder, Abercross, has also expanded its shareholding.
“This deal marks a new era in the ownership of Typhoo Tea," said CEO Des Kingsley. "It has secured major investment that will enable us to reassert our brands both in the UK and internationally to deliver profitable growth.
“After a challenging two years, we are pleased that we can now continue with our programme of rebuilding one of the nation’s favourite tea brands. We have plans in place that will result in the creation of new jobs across all areas of the business. We are delighted that Zetland’s support will allow us to invest in our factory and ensure a bright future for the company.”
Issam Hamid, Managing Partner of Abercross said: “Typhoo Tea has incredible capacity for growth both in the UK and overseas. We’re delighted and proud to continue playing our role in helping it reach its full potential once again.”
With over 100 years’ experience in tea, Typhoo is an established household name. Its rich history includes being the first brand to sell ready-packaged tea and the first to introduce a green tea blend to the UK. The company is also home to a wide range of brands in the growing herbal and fruit infusion market in addition to Typhoo Tea, including Lift, London Fruit & Herb, Heath & Heather, Ridgways, Glengettie, Fresh Brew and Melrose’s. Typhoo is also the leading own-label supplier in the UK.
Ahmed Hamdani, Founder and Chief Investment Officer at Zetland Capital commented: “Typhoo Tea has a strong heritage and brand, having made tea in the UK for nearly 120 years. We are delighted to support Des and the rest of the team."
