Vaping business Supreme swoops for Typhoo Tea

A deal is brewing for listed Manchester-based consumer goods manufacturer and vaping specialist, Supreme, to take control of iconic tea maker, Typhoo.

The group, which reported an eight per cent jump in interim revenues of £113m for the six months to September 30, earlier this week, has revealed it is in talks over a possible deal to buy tea-maker, Typhoo, out of administration.

With Government legislation on vaping on the horizon it makes sense for the Trafford Park-based group to consider diversification, having successfully bought a drinks bottling business from NorthEdge this year.

In a stock exchange statement, it said: “The board of Supreme can confirm that it is currently participating in a process regarding the potential acquisition of Typhoo Tea. Whilst discussions with the administrators are now at an advanced stage, there can be no certainty that the potential acquisition will be completed.

“No final terms of the potential acquisition have been agreed but the company can, however, confirm that any potential offer would be funded by Supreme’s existing bank facilities.”

Typhoo previously operated from a factory in Moreton, Wirral, but in July last year shut the plant down, with the loss of 85 jobs, and relocated to a new headquarters in Bristol.

This, inadvertently, played a part in its unfortunate demise, resulting in an illegal occupation of the abandoned factory which resulted in internal damage requiring repairs in the order of £24m before it could be divested, putting further strain on company finances.