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Unilever to buy tea brand Tazo from Starbucks for $384 million

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Unilever to buy tea brand Tazo from Starbucks for $384 million

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(Reuters) – Unilever <ULVR.L> <UNc.AS> said on Thursday it would buy the speciality tea brand Tazo from Starbucks in a deal valued at $384 million (294.19 million pounds). This acquisition is the latest in a string of deals by the Anglo-Dutch consumer giant to add smaller, healthier brands to expand its portfolio in a fast-growing speciality tea segment. “With its strong appeal to millennials, Tazo is a perfect strategic fit for our U.S. portfolio,” Kees Kruythoff, president, Unilever North America said.

(Reporting by Sonam Rai in Bengaluru; Editing by Shounak Dasgupta)
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