Tea News and Biz Insights - December 3, 2021

HEAR THE HEADLINES – Ekaterra Tea Underway | India Steps up Efforts to Halt Illegal Imports | Chinese Archaeologists Discover Oldest Tea Yet | NEWSMAKER – John Davison, CEO ekaterra tea | FEATURES – This week Tea Biz travels to Singapore for a conversation with John Davison, CEO of ekaterra tea, soon to be the largest tea company in the world. Ekaterra is currently a division of Unilever that houses 34 tea brands including Lipton, PG Tips, TAZO, Brooke Bond, Pukka, and Red Rose. In November CVC Capital Partners, a multi-billion private equity firm headquartered in Luxembourg, paid $5.1 billion for ekaterra tea, outbidding several competitors and establishing a valuation based on 14x earnings before taxes and depreciation. Regulatory and antitrust reviews will take six months to complete. Ekaterra's First Steps – John Davison joined Unilever in March 2021 to carve out the company’s underperforming tea portfolio. Davison discusses the urgency of improving tea quality and adopting sustainable initiatives along the entire supply chain. Listen to his plans for reenergizing the world's largest tea company.

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