The 120-year-old business has been beset with falling sales and production difficulties. (Image: Getty)
Vapes and batteries maker Supreme bought the collapsed tea firm Typhoo out of administration.
last week as the future of the 121-year-old firm hung in the balance.
London-listed Supreme said it had stepped in to buy the historic brand as it expanded its operations away from vaping following a UK government crackdown on disposable vapes.
Susannah Streeter, head of money and markets at Hargreaves Lansdown said: “Kettles will be whistling in celebration at Typhoo HQ now that an historic British brand will stay on the shelves.
“The deal with Supreme had been brewing for some time, and there will be relief that the details have been poured over and the acquisition has been agreed.”
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Sandy Chadha, Supreme’s chief executive, said the company’s acquisition of Typhoo Tea followed its acquisition of the soft drinks business Clearly Drinks.
She said: “I believe Typhoo Tea will thrive under our ownership, further benefiting from Supreme’s significant market reach and successful track record in creating brand loyalty, making us an ideal fit for this business.
“Having established our soft drinks division earlier in the year, we believe the addition of Typhoo Tea and its highly complementary blend of great value and premium tea brands creates tangible cross-sell and product innovation opportunities in the near term, alongside avenues into credible UK retailers that Supreme has been looking to partner with.”
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Streeter said Typhoo had faced a “super-tough time”.
She continued: “Not just because of falling sales, but the production issues which beset the company after trespassers caused damage at its plant on Merseyside.”
She added: “It’s clearly got a bargain brew for Typhoo by buying the brand out of administration. It has loyal custom it can build on, but also will spy new opportunities given tea’s wellness image to tie into the ambitions of its supplements and multivitamin arm.
“There are clearly opportunities ahead to appeal to health-conscious consumers and future Typhoo product launches look likely focus on this trend.’”