Typhoo Tea bought in rescue deal by vapes firm Supreme

Yorkshire Post

Vapes and batteries maker Supreme has bought collapsed tea firm Typhoo out of administration. Typhoo Tea filed to appoint administrators last Wednesday, risking the future of the 121-year-old firm.  However, London-listed Supreme confirmed talks over a deal last week and said on Monday it has completed a rescue deal to buy the historic brand. Supreme said it will pay a total of £10.2 million to buy Typhoo, in a deal which values the brand’s stock and trade debts at £7.5 million. #typhoo

Transcript

00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post. I bring

00:07you some major breaking business news this morning. The vapes and batteries maker Supreme

00:14has bought the collapsed tea firm Typhoo out of administration. Typhoo Tea filed to appoint

00:22administrators last week. However, the London-listed Supreme confirmed talks over a deal last week

00:29and said on Monday it has completed a rescue deal to buy the historic brand. Supreme said

00:37it will pay a total of £10 million to buy Typhoo in a deal which values the brand's

00:43stock and trade debts at £7.5 million. The move is part of a strategy by Supreme to expand

00:51its operations away from vaping. Some major breaking news this morning. The vapes and

00:57batteries maker Supreme has bought Typhoo out of administration. My name is Greg Wright.

01:04I'm the Deputy Business Editor of the Yorkshire Post.

Category

Transcript

Recommended