Unilever acquires Pukka Herbs
London/Rotterdam – Unilever announced today that it has acquired the organic herbal tea business, Pukka Herbs Ltd.
Pukka Herbs Ltd was founded in 2001 by Tim Westwell and Sebastian Pole. With 100% certified, organic and ethically sourced ingredients, Pukka’s health and wellness philosophy centres around benefitting people, plants and planet. This represents a clear synergy with Unilever’s own sustainable living plan.
The pioneering British brand has a turnover of over £30m and growth of around 30%. It is also growing rapidly across Europe and the US. According to Euromonitor 2016, Pukka is the fastest growing organic tea company in the world. The herbal, fruit and green tea market is currently worth €1.6bn* which trends suggest will become even more prominent globally in the future.
Unilever’s Refreshment Category President, Kevin Havelock, said: “Pukka has strong values and a clear purpose that aligns fully with our own sustainable growth model. There’s a clear strategic, philosophical and cultural fit for us.”
“Both of us believe in business being a force for good in society. Tim and Sebastian have cultivated Pukka into a successful business without compromising their ingredients or their ideals. The acquisition strengthens our tea business, addressing a gap in our portfolio. Pukka is a premium player in the natural, organic, health and wellness segment which is fast-growing, attractive and scalable. We look forward to bringing Pukka to even more consumers.”
Tim Westwell, Pukka co-founder and CEO said: “From day one, our mission was to connect more people with the incredible power of plants and herbs. Sixteen years later, with 1.5 billion Pukka teas enjoyed, we’ve made huge progress – and it’s just the beginning.”
Sebastian Pole, Pukka co-founder and Master Herbsmith said: “Choosing Unilever came down to two fundamentals: scale and sustainability. It is a leader in social and environmental change and it wholeheartedly embraces Pukka’s beliefs. So, there’s a meeting of values. Pukka will remain 100% organic and a champion for fair trading through pioneering schemes like Fair for Life, and continue to donate 1% of its sales to global environmental charities. With Unilever, we have new levels of reach and opportunity.”
Terms of the deal were not disclosed.
*Nielsen data 2016
100 Victoria Embankment
London EC4Y 0DY
+44 (0) 207 822 5252
This announcement may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as ‘will’, ‘aim’, ‘expects’, ‘anticipates’, ‘intends’, ‘looks’, ‘believes’, ‘vision’, or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Unilever Group (the “Group”). They are not historical facts, nor are they guarantees of future performance.
Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially are: Unilever's global brands not meeting consumer preferences; Unilever's ability to innovate and remain competitive; Unilever's investment choices in its portfolio management; inability to find sustainable solutions to support long-term growth; customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain; the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure; successful execution of acquisitions, divestitures and business transformation projects; economic and political risks and natural disasters; the effect of climate change on Unilever's business; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters. These forward-looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Further details of potential risks and uncertainties affecting the Group are described in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including in the Annual Report on Form 20-F 2016 and the Unilever Annual Report and Accounts 2016.