Friday, November 17, 2017 | Today's Vending Industry News
Unilever To Acquire Tazo Brand From Starbucks For $384 Million

Posted On: 11/13/2017

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ENGLEWOOD CLIFFS, NJ -- Unilever has agreed to acquire the Tazo specialty tea brand from Starbucks for $384 million.

The deal includes the Tazo brand and all related intellectual property, signature recipes and inventory. Tazo had sales of $112.5 million over the past year.

Founded in 1994, Tazo is sold primarily in grocery, mass and convenience channels in the U.S. and Canada, and is offered in Keurig K-Cups and ready-to-drink teas.

"Tazo represents another strategic addition which strengthens our tea portfolio towards high-growth segments," said Unilever president of Refreshment Kevin Havelock. "Its artfully crafted specialty teas perfectly complement our global tea business, which includes Lipton, Pure Leaf, PG Tips, T2 and our recent addition, Pukka."

The transaction is expected to close in the fourth quarter.