UK Tea Company Acquisition
Keith Spicer, which has been supplying tea to the UK market since 1934, has been acquired by two international companies, US-based Harris Tea and Jay Tea of India, for an undisclosed sum. A leading North American private label tea producer, Harris Tea is a division of Harris Freeman. Jay Tea is part of Mudha Jayanti and has a strong presence in private label tea across the globe, particularly in the US, Australia and Europe.
According to Gilbert Zaris, vice chairman of Harris Freeman, the deal strengthens the group’s position as a provider of own label teas while opening further expansion opportunities. “Through this acquisition we have gained a complementary business while giving us a stronger foothold in Europe. This strategic investment will help us with further potential acquisitions in that region,” he says.
