Tata Tea's subsidiary, the Tetley group, has signed a definitive agreement to acquire the Vitax and Flosana trademarks in Poland, from Premium Foods. The acquisition of the trademarks is being funded by The Tetley Group.According to a release issued by Tata Tea to the BSE today, the combined turnover of Vitax and Flosana brands is $23 million. Vitax is one of the leading players in the Polish specialty tea segment. Their range of fruit, herbal and green teas complements the Tetley portfolio of black and Earl Grey teas.In a statement, Garry Nield, managing director of Europe and Emerging Markets for the Tetley Group commented "Tetley already has a strong business in Poland build on black and Earl Grey teas. There is significant potential to grow the fruit and herbal market in Poland and it makes sense for us to acquire an established and successful range of fruit and herbal products, rather than start afresh with a new Tetley range. This transaction will allow Tetley to offer the Polish tea drinker a wider choice of great tasting teas whilst continuing out strong distribution arrangements to deliver outstanding customer services."'The acquisition springboards Tetley to the number two position in the Polish tea market with a 10.5% value share* and a turnover of $ 36 million', the release added.
