Clipper Teas purchased by Dutch food group
Clipper Teas, a tea, coffee and chocolate manufacturer from the UK, has been snapped up by Wessanen, a Dutch food group. The tea company, founded in 1984, employs about 90 people and was first sold to a private equity firm for £30 million in 2007. Although details of the deal were not disclosed, it is believed Wessanen shelled out £50 million for Clipper Teas. According to the CEO of Wessanen UK, the company plans to keep production in the UK and export the brand across Europe in an effort to capitalize on increasing demand for natural foods. Clipper Teas was the first tea manufacturer to be awarded Fairtrade status in 1994 and its products are currently available in 50 countries. It recorded sales of £16 million in 2011.