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In November 2 0 2 1 , European consumer goods group Unilever announced that it had sold its tea business, ekaterra, to private equity firm
In November European consumer goods group Unilever announced that it had sold its tea business, ekaterra, to private equity firm CVC Partners for billion. According to Unilever, ekaterra is the worlds leading Tea business, with a portfolio of brands including Lipton, PG tips, Pukka, T and TAZO The business generated revenues of around billion in The CEO of Unilever said The evolution of our portfolio into higher growth spaces is an important part of our growth strategy for Unilever. Our decision to sell ekaterra demonstrates further progress in delivering against our plans.
According to an industry report, The deal also highlights the continuing flow of company carveouts in Europe, as well as the rise of investor activism on the continent as hedge funds push for disposals and breakups at large, established companies in order to extract value.
True or False: The Unilever CEOs statement and the industry report imply that Unilevers ownership of ekaterra produced negative synergies.
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