Wednesday, 08 May 2024 13:28

Browns becomes world’s biggest tea exporter in deal with LIPTON Featured

LIPTON Teas and Infusions yesterday announced it has agreed terms of a partnership which will result in the transfer of its tea estates in Kenya,

Rwanda, and Tanzania to Browns Investments alongside an agreement that all tea sold by Browns worldwide will be grown and harvested to a new set of standards covering quality, social and environmental protections.

This long term partnership will make Browns the world’s leading tea exporter – around 87 million kilograms each year as well as one of the largest suppliers to the world’s largest tea company, LIPTON Teas and Infusions.

By working together, the two companies will raise tea quality globally and accelerate the application of responsible farming methods across the industry to drive sustainable growth. Browns will invest in its estates in Kenya and Sri Lanka to meet the new standards by 2025, as well as in the creation of additional skilled employment opportunities in Kenya.

Browns separately in a filing to the Colombo Stock Exchange said subsidiary B Commodities ME FZE incorporated in the United Arab Emirates has entered into a Sales and Purchase Agreement (SPA) with Ekaterra Holdco UK Ltd., Ekaterra Group Holdings BV incorporated in Netherlands to acquire the controlling stake of four companies for a consideration to be calculated at completion in accordance with the provisions of the SPA.

 

There are 35833 listings and 1274 categories in our website