(CercleFinance.com) – Unilever announced today that it has completed the sale of ekaterra, its tea business, to CVC Capital Partners Fund VIII.
The agreement between the two companies was concluded in November 2021 and provided for the sale of ekaterra for 4.5 billion euros. Unilever and CVC had reached an agreement for the sale of ekaterra in November 2021, for 4.5 billion euros. This should be concluded during the second semester.
Unilever says the transaction excludes Unilever’s tea businesses in India, Nepal and Indonesia as well as Unilever’s interests in the Pepsi Lipton ready-to-drink tea joint ventures and associated distribution businesses.
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