Beloved tea company rescued with purchase for £10.2 million.

A company that makes vaping products has stepped in to rescue a well-known tea brand.

December 2nd 2024.

Beloved tea company rescued with purchase for £10.2 million.
It was a sad day for tea lovers when the news broke that Typhoo tea, a beloved British brand, had gone into administration. The company, with over a century of history behind it, had suffered significant losses of nearly £40 million in the previous year, leaving fans shocked and worried about the future of their favorite tea.

Thankfully, their fears were put to rest when it was announced that a vape manufacturer, Supreme, had swooped in to save Typhoo from the brink of collapse. After just two weeks of searching for a buyer, Typhoo found its new home with Supreme, a company known for its production and distribution of batteries, lighting, and vapes.

According to reports from the Sun, Supreme had acquired Typhoo for a cash consideration of £10.2 million. This included the brand's stock and trade debtors with a book value of £7.5 million. In a statement released today, Supreme expressed their pleasure at the acquisition and assured customers that the integration of Typhoo into their business would not disrupt operations or customer service levels.

Typhoo's financial struggles, despite being a household name and kitchen staple, were attributed to changing consumer habits and the impact of the coronavirus pandemic. The company was also affected by supply chain issues caused by the Russia-Ukraine war. However, with Supreme's acquisition, there is hope that Typhoo will be able to recover and thrive once again.

The acquisition also comes at a strategic time for Supreme, as they plan to diversify into the drinks and nutrition industry ahead of the government's ban on disposable vapes next year. With Typhoo's well-known brand and loyal customer base, Supreme is confident in its decision to expand into this market.

Founded in 1903 by Birmingham grocer John Summer, Typhoo tea quickly gained popularity, thanks to its catchy slogan, "You only get an oo with Typhoo." Over the years, it has become a household name and a staple in British homes. And now, with the support of Supreme, Typhoo can continue its legacy and provide tea lovers with their favorite blends.

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