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Jan 04, 2012

Sara Lee Buys Tea Forté

PrintSara Lee Buys Tea Forté  

Strengthening its presence in the ultra premium tea category, Sara Lee Corp. has acquired Concord, Mass.-based Tea Forté for an undisclosed sum.

Founded in 2003 by former Museum of Modern Art designer Peter Hewitt, Tea Forté has established a presence at specialty food retailers, upscale hotels and restaurants in 35 countries. The specialty teas are available in loose leaf and in the company's signature pyramid infuser. The privately held premium tea company, which offers a line of teawares and brewing accessories, reported revenues of $12 million in 2011.

"Acquiring Tea Forté fits perfectly into our strategy to spin off 'CoffeeTeaCo' as a pure-play coffee and tea company poised for strong growth," said Jan Bennink, executive chairman of the board, Sara Lee Corp.

CoffeeTeaCo will retain the current management team of Tea Forté to run the business independently before integrating it into its international coffee and tea operations.

In related news, Sara Lee completed the sale of the majority of its North American foodservice coffee business to The J.M. Smucker Co., which is known for its Dunkin' Donuts and Folgers coffee brands.The sale, also announced on Jan. 3,  includes liquid coffee concentrate sold under the Douwe Egberts brand.

Last January, the Netherlands-based Sara Lee said it would divide into two publicly traded companies: one focused on meats in North America and the other focused on the international coffee and tea market. The split is on track to occur during the first half of this year.








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