Zetland Capital, a London based Private Equity firm earlier this week announced a significant investment into Typhoo Tea Ltd that has been manufactured at Moreton since 1978.
This investment gives Zetland Capital a majority shareholding in the company, one of the nation’s favourite tea brands. Current shareholder, Abercross, has also expanded its shareholding.
Des Kingsley, CEO at Typhoo Tea Ltd. said,
This deal marks a new era in the ownership of Typhoo Tea. 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.
With over 100 years’ experience in tea development, Typhoo is an established household favourite. Its rich history includes being the first brand to sell ready-packaged tea and the first tea brand to introduce a green tea blend into the UK.
The company is also home to a wide range of brands in the growing herbal and fruit infusion market. The brands include Typhoo Tea, 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. Our partnership will enable investment at an important time for the company and we are confident that Typhoo can regain its reputation as one of Britain’s most loved brands and drive innovation in the sector.”
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.”
In 1978, production was moved from Birmingham to Moreton. Early in 2020, Typhoo Tea proposed cutting about a quarter of posts at its headquarters to safeguard the future of the company.
The proposed restructuring would see 55 full-time and 21 temporary jobs closed at the firm’s factory in Moreton. A spokesperson said at the time that the plan came against “the backdrop of an increasingly challenging trading environment”.
Image By Rept0n1x – Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=19279850
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