Vapes and batteries maker Supreme has bought collapsed tea firm Typhoo out of administration. Typhoo Tea filed to appoint administrators last Wednesday, risking the future of the 121-year-old firm.
However, London-listed Supreme confirmed talks over a deal last week and said on Monday it has completed a rescue deal to buy the historic brand. Supreme said it will pay a total of £10.2 million to buy Typhoo, in a deal which values the brand’s stock and trade debts at £7.5 million. #typhoo
However, London-listed Supreme confirmed talks over a deal last week and said on Monday it has completed a rescue deal to buy the historic brand. Supreme said it will pay a total of £10.2 million to buy Typhoo, in a deal which values the brand’s stock and trade debts at £7.5 million. #typhoo
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NewsTranscript
00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post. I bring
00:07you some major breaking business news this morning. The vapes and batteries maker Supreme
00:14has bought the collapsed tea firm Typhoo out of administration. Typhoo Tea filed to appoint
00:22administrators last week. However, the London-listed Supreme confirmed talks over a deal last week
00:29and said on Monday it has completed a rescue deal to buy the historic brand. Supreme said
00:37it will pay a total of £10 million to buy Typhoo in a deal which values the brand's
00:43stock and trade debts at £7.5 million. The move is part of a strategy by Supreme to expand
00:51its operations away from vaping. Some major breaking news this morning. The vapes and
00:57batteries maker Supreme has bought Typhoo out of administration. My name is Greg Wright.
01:04I'm the Deputy Business Editor of the Yorkshire Post.