Village Tea Co in management-led buyout
Village Tea Co. has been acquired by Affinity Beverage Group almost exactly a year after a majority interest in the company was purchased by Accel Brands, a beverage holding company. Affinity Beverage is led by Accel Brands and Village Tea senior management and seeks full control of the company's future to build a health and wellness lifestyle brand beyond tea. Affinity CEO Janon Costley will remain in his role as CEO of Village Tea, while Affinity advisory board member and Village Tea founder Martin Ekechukwu will continue in his role as Brand Manager and President. Accel divested from the tea market to focus on its core wine and spirits business.