The vape and drinks supplier Supreme has bought Typhoo Tea out of administration for £10.2 million.
Typhoo Tea, which was founded more than a century ago, appointed administrators last week after it was unable to find creditors to pay back its debts.
The deal will rescue the business after it struggled with falling tea sales and a break-in at its site on Merseyside last year.
Sandy Chadha, Supreme’s chief executive, said: “The acquisition of Typhoo Tea marks a significant step in our broader diversification strategy and brings one of the most iconic UK consumer brands into the Supreme family.”
He added that the deal would allow Typhoo Tea to benefit from “Supreme’s significant market reach and successful track record in creating brand loyalty”.
The buy-up