Unilever, a multinational food supplier, has divested Ekaterra, the division processing and marketing tea products. CVC Capital Partners has acquired the enterprise for $5 billion including 34 brands including Lipton and Tazo that collectively generated $2 billion in sales in 2020.
The sale of the tea business is consistent with the Unilever strategy to divest brands and companies that do not have the potential for competitively high growth.