Unilever to Place Limuru Tea of Kenya Under Separate Company
Limuru Tea Plc will fall under a separate entity following Unilever NV’s review of its global tea business, the Kenyan producer said.
The separation will be concluded by the end of 2021, Limuru Tea said in a notice published in the Saturday Nation newspaper. Unilever Tea Kenya Ltd.’s shareholding in Limuru Tea will remain unaffected, according to the company. Unilever will retain its tea businesses in India and Indonesia, and its partnership interests in ready-to-drink tea joint ventures.
Kenya is the world’s biggest exporter of black tea. Global sales have slowly slipped as consumers shift to herbal beverages.
©2020 Bloomberg L.P.