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Unilever: completes sale of tea business to CVC

( - Consumer goods giant Unilever said on Friday that it has completed the sale of its tea business to European private-equity firm CVC Capital Partners.

The consumer products company and CVC had entered into an agreement for the sale of the entity, named ekaterra, in November 2021, for a price of 4.5 billion euros on a cash-free, debt-free basis.

The deal excludes Unilever's tea business in India, Nepal and Indonesia as well as its interests in the Pepsi Lipton ready-to-drink tea joint ventures and associated distribution businesses, the group said.

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