Republic of Tea focuses on growth despite huge valuation
Ron Rubin, executive chairman of The Republic of Tea, is more concerned about positioning the company for the decades ahead than offloading it for a profit. Despite an estimated valuation as high as $125 million and sustained interest from private equity firms and investment banks, Rubin remains committed to keeping the company independent and "a generational business" with plans to hand over the control of the operations to his son Todd. Rubin is also seeking to keep the company debt-free with all growth taking place organically and to focus on the US market in spite of numerous possibilities to expand abroad. The Republic of Tea reported annual sales of $25 million and over 10,000 trade clients.