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On 28 November 2024, Supreme plc announced it is participating in a process regarding the potential acquisition of Typhoo Tea Limited, which has been placed into administration. Discussions with administrators are at an advanced stage, and any potential offer would be funded by Supreme's existing bank facilities, though no final terms have been agreed.
| Date | 28 Nov 2024 |
| Time | 15:11:32 |
| Category | Corporate updates |
| ID | 0782O |
28 November 2024
Supreme plc
("Supreme" or the "Company" or the "Group")
Potential acquisition of Typhoo Tea
Supreme (AIM: SUP), a leading manufacturer, supplier, and brand owner of fast-moving consumer goods, notes a recent announcement that Typhoo Tea Limited ("Typhoo Tea") has been placed into administration and the press speculation regarding Supreme as a potential purchaser of the Typhoo Tea business.
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.
Further announcements will be made as and when appropriate.
Enquiries:
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Supreme plc Sandy Chadha, Chief Executive Officer Suzanne Smith, Chief Finance Officer
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via Vigo Consulting |
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Shore Capital (Nominated Adviser and Joint Broker) Mark Percy / David Coaten / Rachel Goldstein - Corporate Advisory Ben Canning - Corporate Broking
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+44 (0)20 7408 4090 |
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Zeus (Joint Broker) Jordan Warburton / Alex Campbell-Harris - Investment Banking Benjamin Robertson - Corporate Broking
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+44 (0)161 831 1512 |
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Vigo Consulting (Financial Public Relations) Jeremy Garcia / Kendall Hill / Anna Stacey |
+44 (0)20 7390 0230 |
About Supreme
Supreme supplies products across six categories; Batteries, Lighting, Vaping, Sports Nutrition and Wellness, Branded Distribution and Soft Drinks. The Company's capabilities span from product development and manufacturing through to its extensive retail distribution network and direct to consumer capabilities. This vertically integrated platform provides an excellent route to market for well-known brands and products.
The Group has over 3,000 active business accounts with retail customers who manage over 10,000 branded retail outlets. Customers include B&M, Home Bargains, Poundland, Tesco, Sainsburys, Morrisons, Amazon, The Range, Costcutter, Asda, Halfords, Iceland, Waitrose, Aldi and HM Prison & Probation Service.
In addition to distributing globally-recognised brands such as Duracell, Energizer and Panasonic, and supplying lighting products exclusively under the Energizer, Eveready, Black & Decker and JCB licences across 45 countries, Supreme has also developed brands in-house, most notably 88Vape, has a growing footprint in Sports Nutrition and Wellness via its principal brands Sci-MX and Battle Bites, and has recently expanded into the soft drinks market with the acquisition of Clearly Drinks, adding established brands such as Perfectly Clear and Northumbria Spring to its portfolio.
https://investors.supreme.co.uk/