Cafédirect plc (“Cafédirect”) has today agreed, the purchase of The London Tea Company Limited (London Tea) from Finlay Beverages Limited. The acquisition of London Tea by Cafédirect adds a high quality range of 100% Fairtrade fruit, herbal and black teas, complimenting their existing portfolio of Cafédirect branded coffee, tea and hot chocolate products.
John Steel, CEO of Cafédirect, commented;
“There is a strong strategic fit between the Cafédirect and London Tea product range. The London Tea products will help us to deliver our future growth strategy whilst continuing to open up new opportunities within the speciality and fruit & herbal sectors. London Tea fits perfectly within our ongoing Fairtrade commitment to ethical trading and sourcing. In addition to the opportunities with existing Cafédirect and London Tea customers we are excited to leverage the benefits of this agreement to further our social and environmental impact which goes well beyond Fairtrade”.
Ian Bryson, Managing Director of Finlay Beverages Ltd, commented;
“The sale of London Tea was not an easy decision, however, Finlay Beverages is committed to private label manufacturing and helping brand owners make the most of their growth opportunities, rather than owning its own brands. The sale of London Tea to Cafédirect enables both businesses’ to focus on their core strengths in order to deliver their respective strategies. I firmly believe that London Tea will continue to be a success under the new brand focused ownership of Cafédirect”.
Cafédirect was born as a direct coffee company in 1991 following a collapse in coffee prices and subsequently became the first Fairtrade certified coffee in 1994.
This pioneering organisation is an ethical hot drinks business with a mission to use business as a force for good. The company works with over 40 producer organizations in 14 countries, championing the work of small farmers and delivering delicious products, always committed to having a positive impact for people and the environment.
Cafédirect’s unique business model maximizes social and environmental impact via paying Fairtrade premiums and making donations to a standalone, farmer led charity, The Cafédirect Producer’s Foundation.
Finlay Beverages Limited is part of the Finlays Group. Finlays is a leading supplier of tea, coffee and natural ingredients for the global beverage industry, with extensive interests across plantations, extraction, trading, R&D, packing and customer support in Kenya, Sri Lanka, China, Argentina, North America and the UK. The company was founded in 1750 and continues to be one of the leaders of what is now known as “global supply chain management‟. Finlays is wholly-owned by John Swire & Sons Ltd and is currently headquartered in London.