Sara Lee acquires Tea Forté
Sara Lee Corp, a giant of the food and drink industry, has purchased Tea Forté, a gourmet tea manufacturer, for an undisclosed amount. The Massachusetts-based premium tea company was founded in 2003 by former Museum of Modern Art designer Peter Hewitt and posted revenues of $12 million in 2011. It supplies loose and bagged teas to hotels, restaurants and luxury retailers in 35 countries worldwide. The purchase will complement Sara Lee's existing portfolio of brands, such as Ball Park, DouweEgberts, Pickwick Teas and Senseo, which have helped the company generate nearly $9 billion in annual net sales. Sara Lee has announced plans to split its business into two separate entities, one focused on meats and the other on the coffee and tea market.