• Latest
  • Trending
  • All
  • News
  • Lifestyle
Unilever to retain tea biz in India and Indonesia after portfolio review thumbnail

Unilever to retain tea biz in India and Indonesia after portfolio review

July 24, 2020
Seasonal affective disorder (SAD) thumbnail

Seasonal affective disorder (SAD)

September 25, 2023
Amazon Prime Video will soon come with ads, or a $2.99 monthly charge to dodge them thumbnail

Amazon Prime Video will soon come with ads, or a $2.99 monthly charge to dodge them

September 25, 2023
Schumer Signals Menendez Will Stay As New Jersey Dems Call For Him To Resign thumbnail

Schumer Signals Menendez Will Stay As New Jersey Dems Call For Him To Resign

September 24, 2023
USDA Launches Program to Support Agricultural Employers and Farmworkers, Aiming to Increase Economic and Supply Chain Resilience as Part of President Biden’s Investing in America Agenda thumbnail

USDA Launches Program to Support Agricultural Employers and Farmworkers, Aiming to Increase Economic and Supply Chain Resilience as Part of President Biden’s Investing in America Agenda

September 24, 2023
Ron DeSantis’s Grip on Florida Is Slipping: Report thumbnail

Ron DeSantis’s Grip on Florida Is Slipping: Report

September 24, 2023
Rupert Murdoch Is Stepping Down As Chairman of Fox. Meet His Son Lachan, the Real-Life 'Kendall Roy' Taking Over the Family Business thumbnail

Rupert Murdoch Is Stepping Down As Chairman of Fox. Meet His Son Lachan, the Real-Life ‘Kendall Roy’ Taking Over the Family Business

September 23, 2023
Where to Celebrate Oktoberfest This Fall thumbnail

Where to Celebrate Oktoberfest This Fall

September 21, 2023
China’s foreign minister heads to Moscow after meeting with U.S. national security adviser thumbnail

China’s foreign minister heads to Moscow after meeting with U.S. national security adviser

September 21, 2023
Treating high blood pressure can save 76 million lives in 30 years, WHO says thumbnail

Treating high blood pressure can save 76 million lives in 30 years, WHO says

September 21, 2023
Do pets really make people happier and healthier? thumbnail

Do pets really make people happier and healthier?

September 21, 2023
Republicans Are Losing Their Mind Over the Senate’s New Dress Code thumbnail

Republicans Are Losing Their Mind Over the Senate’s New Dress Code

September 20, 2023
What is a Cybersecurity Policy and How to Create One? thumbnail

What is a Cybersecurity Policy and How to Create One?

September 20, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact
  • Donate
Monday, September 25, 2023
66 °f
Wellfleet
58 ° Tue
63 ° Wed
68 ° Thu
61 ° Fri
  • Login
  • Register
FREE Cape Cod News
DONATE
  • FREE Cape Cod News
  • Cape Cod News
  • News
    • News
    • Massachusetts
    • Breaking News
    • Cape Cod Weather
    • Storm Watch
    • Environment
  • Politics
    • democrats
    • republicans
  • Business
    • business
    • cryptocurrency
    • economy
    • money
    • Real Estate
    • Tech
  • World
  • Entertainment
  • Lifestyle
  • Photos
    • Orleans
    • Eastham
    • Wellfleet
    • Truro
    • Provincetown
    • Brewster
    • Chatham
  • Videos
No Result
View All Result
Free Cape Cod News
No Result
View All Result
  • FREE Cape Cod News
  • Cape Cod News
  • News
  • Politics
  • Business
  • World
  • Entertainment
  • Lifestyle
  • Photos
  • Videos
Home Business

Unilever to retain tea biz in India and Indonesia after portfolio review

FREE Cape Cod News by FREE Cape Cod News
July 24, 2020
in Business
Reading Time: 3 mins read
Donate
0
Unilever to retain tea biz in India and Indonesia after portfolio review thumbnail
632
SHARES
1.4k
VIEWS
Share on TwitterShare on Facebook

The announcement is significant, as it brings to an end to months of speculation about the fate of the tea business in India, which is a growing segment for local unit Hindustan Unilever (HUL)

Topics

Unilever | Hindustan Unilever HUL | Sanjiv Mehta

Consumer goods major Unilever on Thursday said it would retain its tea businesses in India and Indonesia, following a strategic review that began in January.

The announcement is significant, as it brings to an end to months of speculation about the fate of the tea business in India, which is a growing segment for local unit Hindustan Unilever (HUL).

“In January, Unilever announced a strategic review of its global tea business, which includes brands such as Lipton, Brooke Bond and PG Tips. This review has assessed a full range of options. We will retain the tea businesses in India and Indonesia and the partnership interests in the ready-to-drink tea joint ventures,” Unilever said.

The review has resulted in Unilever deciding to demerge the rest of the tea business, valued at euro 2 billion or $2.3 billion, into a separate entity. The India and Indonesia tea businesses along with the other tea joint ventures are valued at $1 billion, analysts said.

The company is expected to put the demerged entity up for sale and has already reportedly received interest from some of the top buyout firms in the world, including Advent International, Bain Capital, KKR, Blackstone and others.

ALSO READ: MNC CEOs anxious over localised lockdowns even as pandemic surges

Unilever said the demerger would conclude by the end of the next calendar year.

“The balance of Unilever’s tea brands and geographies and all tea estates have an exciting future, and this potential can best be achieved as a separate entity. A process will now begin to implement the separation, which is expected to conclude by the end of 2021,” the company said.

On Tuesday, HUL reported a 52 per cent year-on-year sales growth for its foods and refreshments business in the April-June period, led by tea, coffee and packaged food brands such as Kissan. Sanjiv Mehta, chairman and managing director, HUL, said this was on account of the in-home consumption trend visible in foods, led by the pandemic and lockdown.

Tea is part of the essentials portfolio of HUL, which constitutes 80 per cent of its business. This business grew at a rate of 6 per cent in April-June,while discretionary and out-of-home segments of the company degrew sharply, it said.

HUL competes head-on with Tata Consumer Products in tea, with brands such as Brooke Bond Red Label, Taaza, Taj Mahal Tea and Lipton (in green tea). The company is estimated to have a share of 20-21 per cent in the domestic tea market valued at Rs 15,000 crore.

Read More

FREE Digital Newspaper Subscription!
Sign up for your free digital subscription. The FREE Cape Cod News

Unsubscribe
FREE Cape Cod News

FREE Cape Cod News

Free Cape Cod News is what's happening in the Cape Cod, U.S and World & what people are talking about right now. Local newspaper. Stay in the know. Subscribe to get notified about our latest news.

Related Posts

Rupert Murdoch Is Stepping Down As Chairman of Fox. Meet His Son Lachan, the Real-Life 'Kendall Roy' Taking Over the Family Business thumbnail
Business

Rupert Murdoch Is Stepping Down As Chairman of Fox. Meet His Son Lachan, the Real-Life ‘Kendall Roy’ Taking Over the Family Business

by FREE Cape Cod News
September 23, 2023
What is a Cybersecurity Policy and How to Create One? thumbnail
Business

What is a Cybersecurity Policy and How to Create One?

by FREE Cape Cod News
September 20, 2023
Norfolk Southern to pay Ohio town residents for any lost home value after a train crash and resulting health worries decimated the local economy thumbnail
Business

Norfolk Southern to pay Ohio town residents for any lost home value after a train crash and resulting health worries decimated the local economy

by FREE Cape Cod News
September 20, 2023
Why Major US Banks Are Dialing Back Chances of a Recession thumbnail
Business

Why Major US Banks Are Dialing Back Chances of a Recession

by FREE Cape Cod News
September 13, 2023
Load More
Please login to join discussion

Follow Us on Twitter

FREE Cape Cod News - Your source for local Cape Cod news, latest breaking U.S. and World news. Every day, all day. Subscribe for your favorite categories.

  • Trending
  • Comments
  • Latest
Cape Cod Real Estate Bubble

Will the Cape Cod Real Estate Bubble Burst in 2024? The Answer is a Resounding Yes!

April 30, 2023
It's cool, claims Samsung as it pushes 3D IC SoC tech at overheated world thumbnail

It’s cool, claims Samsung as it pushes 3D IC SoC tech at overheated world

August 14, 2020
People on the beach, Cape Cod, Massachusetts

Exploring the Nuances: Debunking Cape Cod’s Overrated Reputation

May 29, 2023
Seasonal affective disorder (SAD) thumbnail

Seasonal affective disorder (SAD)

September 25, 2023
Amazon Prime Video will soon come with ads, or a $2.99 monthly charge to dodge them thumbnail

Amazon Prime Video will soon come with ads, or a $2.99 monthly charge to dodge them

September 25, 2023
Schumer Signals Menendez Will Stay As New Jersey Dems Call For Him To Resign thumbnail

Schumer Signals Menendez Will Stay As New Jersey Dems Call For Him To Resign

September 24, 2023

FREE Cape Cod News On Twitter

Today’s News

  • Seasonal affective disorder (SAD) September 25, 2023
  • Amazon Prime Video will soon come with ads, or a $2.99 monthly charge to dodge them September 25, 2023
  • Schumer Signals Menendez Will Stay As New Jersey Dems Call For Him To Resign September 24, 2023
  • USDA Launches Program to Support Agricultural Employers and Farmworkers, Aiming to Increase Economic and Supply Chain Resilience as Part of President Biden’s Investing in America Agenda September 24, 2023
  • Ron DeSantis’s Grip on Florida Is Slipping: Report September 24, 2023
FREE Cape Cod News

Copyright © 2023 Free Cape Cod News

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact
  • Donate

Follow Us

No Result
View All Result
  • FREE Cape Cod News
  • Cape Cod News
  • News
    • News
    • Massachusetts
    • Breaking News
    • Cape Cod Weather
    • Storm Watch
    • Environment
  • Politics
    • democrats
    • republicans
  • Business
    • business
    • cryptocurrency
    • economy
    • money
    • Real Estate
    • Tech
  • World
  • Entertainment
  • Lifestyle
  • Photos
    • Orleans
    • Eastham
    • Wellfleet
    • Truro
    • Provincetown
    • Brewster
    • Chatham
  • Videos
  • Login
  • Sign Up

Copyright © 2023 Free Cape Cod News

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist