Lipton Teas and Infusion has transfered its tea estates in Kenya, Rwanda, and Tanzania to Browns Investments in a deal that will also see shares totalling 15 per cent of the main Kenyan operating company offered to the communities of Kericho and Bomet.
- •Details of the deal says all tea sold by Browns worldwide will be grown and harvested to a new set of standards covering quality, social and environment protection, target being by 2025.
- •The two however did not disclose terms of the transaction, which is subject to standard regulatory clearances.
- •In a separate meeting at State House Nairobi, President William Ruto said the pact will enable Kenyan tea farmers earn more from the crop. Lipton Teas and Infusion, and Brown Investments will position Kenya’s Tea as a premium product to the global stage.
“Browns is the perfect partner to work with us to raise standards in the whole tea industry; together we are setting a new precedent for transforming the global tea market,” said Nathalie Roos, Chief Executive Officer, Lipton Teas and infusions.
“We look forward to working hand-in-hand with Lipton Teas and Infusions and local partners to forster a sustainable, responsible, and prosperouse future for all. This partnership marks a significant step towards elevating the industry as a whole, while also ensuring a positive impact on the livelihoods of communities we serve,” said Kamantha Amarasekera, Chief Executive Director, Browns Investments.
The collaboration will see these entities partner with the local communities to enhance the capacity of the sector. It will include the setting up of a Community Endowment Trust Fund with an initial investment of Sh1 billion in community projects.
Liptons is already setting up the Lipton’s Tea Academy that will see the training of farmers on the global best practice to achieve maximum value on their crop.
The two entities will also set up a tea-specific fertilisers plant.
See Also:
