Unilever conducting review of global tea business - NJBIZ

Gabrielle Saulsbery//January 30, 2020//

Gabrielle Saulsbery//January 30, 2020//

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Unilever has initiated a strategic review of its global tea business, which includes popular brands Lipton, Tazo and PG Tips.

The company included the announcement in its earnings report Thursday. Bloomberg and other outlets report this could include a full or partial sale.

“Tea saw price-led growth, however volumes declined due to subdued consumer demand for black tea in developed markets,” the earning report said.

According to a Wall Street Journal report, Unilever’s tea division generates annual sales of about $3.3 billion.

A representative from Unilever has not returned request for comment.

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