TLT advises administrators appointed to rescue iconic Typhoo Tea

National law firm TLT has advised administrators from global restructuring advisory firm Kroll on the sale of the 120-year-old Typhoo Tea business. The deal has rescued this iconic brand and is testament to TLT’s strength and expertise in retail sector restructurings.

Advisory firm Kroll had been appointed to handle the administration and find a buyer for Britain’s oldest tea company Typhoo Tea, which has been acquired by consumer products specialist Supreme Imports Ltd (Supreme).

Typhoo Tea was established in 1903 and was the first pre-packaged tea brand in the UK.

The acquisition will support Supreme’s growth and product diversification, whilst enabling one of the UK’s most iconic consumer brands to continue to trade and flourish.

TLT advised the administrators on all aspects of the administration include the sale. The deal was led by finance partner Peter Carney and restructuring partners Ainslie Benzie and Alastair Lomax. The deal team included a wide range of specialists from across the firm including from the tax, employment, commercial, corporate and real estate teams.

Ainslie Benzie, partner in TLT’s restructuring and insolvency team said: “It was a pleasure to work with Kroll in helping them to save much-loved Typhoo Tea, supporting the business on its next stage of life.”

Philip Dakin, managing director at Kroll commented: “We’re delighted to have worked hand-in-hand with the team at TLT to find the best outcome possible for Typhoo Tea. This was a challenging and complex deal that grasped the attention of the nation but despite this the team at TLT were professional and diligent; and provided expert and valuable commercial advice throughout the transaction. Their understanding of the retail sector was instrumental in this case.”