Nov 25 (Reuters) - Unilever Plc ULVR.L on Monday denied that its tea enterprise was up on the marke
Nov 25 (Reuters) – Unilever Plc ULVR.L on Monday denied that its tea enterprise was up on the market, following studies over the weekend that the patron items big was seeking to unload the division that sells PG Ideas and Lipton manufacturers because of cooling demand for black tea.
“Opposite to studies, we’re not exploring a sale of our tea enterprise,” a Unilever spokeswoman advised Reuters.
“PG Ideas and Lipton are highly regarded manufacturers, and though progress of black tea in developed markets has slowed down,…we’re targeted on turning this round, whereas additionally increasing the manufacturers into natural teas and different segments which can be rising,” she mentioned.
The Telegraph reported late on Saturday that Unilever was exploring a sale, within the face of waning demand for teas in western markets resembling the UK, the place black tea bag gross sales fell 3.4% final yr.
Chief Government Officer Alan Jope earlier this month mentioned that demand for black teas in developed markets was “off pattern”, and that getting individuals to…