Hindustan Unilever (HUL) is planning to retain its tea business in India and Indonesia, months after it announced a global review of its portfolio in January this year. The tea business for other markets would be separated into a different unit. In January, the company had announced a strategic review of the global tea business, which includes leading brands such as Lipton, Brooke Bond, and PG Tips. This review has assessed a full range of options.
The balance of company's tea brands and geographies and all tea estates have an exciting future, and this potential can best be achieved as a separate entity. A process will now begin to implement the separation, which is expected to conclude by the end of 2021. The tea business that will be separated generated revenues of 2 billion Euro in 2019.
HUL is India's largest Fast-Moving Consumer Goods company with its products touching the lives of nine out of ten households in the country.
