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Unilever to buy tea brand Tazo from Starbucks for $384 million
November 2, 2017 / 10:31 PM / 18 days ago

Unilever to buy tea brand Tazo from Starbucks for $384 million

(Reuters) - Unilever (ULVR.L) (UNc.AS) said on Thursday it would buy the specialty tea brand Tazo from Starbucks in a deal valued at $384 million.

FILE PHOTO: The company logo for Unilever is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 17, 2017. REUTERS/Brendan McDermid/File Photo

This acquisition is the latest in a string of deals by the Anglo-Dutch consumer giant to add smaller, healthier brands to expand its portfolio in a fast-growing specialty tea segment.

“With its strong appeal to millennials, Tazo is a perfect strategic fit for our U.S. portfolio,” Kees Kruythoff, president, Unilever North America said.

Reporting by Sonam Rai in Bengaluru; Editing by Shounak Dasgupta

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