Eastern Tea sold to Everton Tea
Eastern Tea sold to Everton Tea
Transaction
Overview
Spayne Lindsay & Co. is delighted to announce that it has advised Eastern Tea a leading US branded and private label tea manufacturer on its sale to Everton Tea, a portfolio company of Clessidra Private Equity.
Eastern Tea procures, blends, packages and distributes across North America a range of bagged leaf teas under the Bromley and private label brands from its Monroe Twp., NJ production facility. The company has been owned and operated by the Barbakoff family since 1982, becoming over time one of the major players in the North American tea market and key strategic partner to major retailers.
Everton is a global leader in the teas and infusions market, offering an extensive portfolio of black, green, and herbal infusions and blends. Headquartered in Tagliolo Monferrato (Italy) and with over 450 employees, the company benefits from global sourcing network, production and distribution facilities in Italy, Croatia and India.
By acquiring Eastern Tea, Everton bolsters itsexisting North American commercial presence, adding on-the-ground blending andpacking capabilities, enhancing its ability to deliver high-quality teaproducts to American consumers. The newly combined company will benefit fromsynergistic sourcing, distribution, commercial and innovation capabilities,positioning it as a premier global player in the tea and infusions sector.
Our deep industry knowledge, global perspective and strong relationships make us a trusted advisor to leading consumer companies and investors
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