Premier Foods is in negotiations to sell off its Typhoo tea business to Apeejay Tea of India, according to a UK newspaper report.

The Financial Times reported today (30 September) that Premier was looking to offload the business for up to GBP100m. The paper said that Premier is being advised by Islandsbanki, the Icelandic investment bank.

The Typhoo business also includes the Lift instant brand and London Fruit and Herb.