Indian tea group Luxmi Group has acquired a majority stake in the UK's Brew Tea Co. for an undisclosed sum.
Following the transaction, which took place in June, co-founders Phil and Aideen Kirby now have a 20% stake in Brew Tea Co., according to a joint statement with Luxmi Group.
Everyday operations at Brew Tea Co. are to remain unchanged following the deal, co-founders Phil and Aideen Kirby told Just Drinks, with all executive management and businesses retaining their roles.
They added they "look forward to see exciting new products and new markets evolve in the near future".
Set up in Manchester in 2012, Brew Tea Co. sells a range of loose-leaf tea and tea bags, which includes English Breakfast, Earl Grey, Assam varieties as well as herbal infusions like lemon and ginger or apple and blackberry.
"This partnership allows us to strengthen those relationships at the source. What matters most to us is the experience in people’s kitchens every single day,” co-founder Phil Kirby said in the statement.
“We’re proud of how close we are to our customers - their loyalty has built Brew Tea Co. We’re excited that with Luxmi, we can now take that same customer promise even further, with even better access to exceptional teas."
As well as selling to large UK retailers like Waitrose, Sainbury's and Ocado, Brew Tea Co. also runs a subscriptions-based service, and currently has roughly 10,000 subscribers throughout the country. The group also ships globally according to its website.
Commenting on the deal, Luxmi Group managing director Rudra Chatterjee said: “As India celebrates its bicentennial of tea grown first in Assam, we are honoured to help bring the traditional craft that made Indian tea world-famous back into global focus."
Founded in 1912, family-owned Luxmi produces a range of teas from 20 tea estates in West Bengal, Assam and Tripura, selling worldwide. It also manages four estates in Rwanda in Africa.
Like Brew Tea Co., the company also runs a subscription service.
Both groups said they would stay focused "on whole-leaf excellence, using only rolled leaves", as well as "on ethical sourcing".
"By combining digital convenience with craft authenticity, they also aim to innovate the subscription experience", the statement added.
