Unilever to sell PG Tips as it loses the public’s favour.
Tea brands PG Tips and Lipton could be sold by Unilever because they are falling out of favour with the public.
Following a slow down in business, the firm has been reviewing its tea business due to consumers switching to herbal tea brands. With the demand of herbal tea rising, it is now said to be worth £52m.
Unilever announced it’s slowest slowest quarterly growth in a decade with sales in the final three months of 2019 were up just 1.5%. But they did expect a stronger performance in 2020.
The sale could either be a partial or full sale of the company and Unilever is looking at “all options.”