Lipton Acquisition, Valuation, Funding & Investors

Lipton was acquired by CVC Capital Partners for $4.9B in November 2021, a 2.3x multiple on $2.2B of revenue.

Lipton acquisition price

$4.9B

Acquired by CVC Capital Partners · Nov 2021

Lipton revenue at acquisition

$2.2B

Last twelve months · Nov 2021

Lipton revenue multiple at acquisition

2.3x

EV/Revenue · Nov 2021

Cumulative funding Lipton raised

$58M

across 1 funding round

Lipton Overview

About Lipton

Lipton is a Englewood Cliffs-based tea brand distributing green, herbal, black, red, and white teas alongside health information resources. Founded in 1890 by Sir Thomas Lipton, the company operates as a Unilever subsidiary, supplying products to retailers across North America and globally.


HQ

United StatesEnglewood Cliffs, NJ

Website

lipton.com

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$2.2B (Nov 2021)

Valuation

$4.9B (acquired Nov 2021)

Lipton Acquisition

Lipton was acquired by CVC Capital Partners for $4.9B on 18 November 2021.

The acquisition price implies a 2.3x revenue multiple on $2.2B of revenue.

Before the acquisition Lipton had raised $58M across 1 funding round.

CVC Capital Partners agreed to acquire Unilever's global tea business, named ekaterra, for €4.5 billion on a cash-free, debt-free basis in November 2021. Ekaterra, which includes the Lipton brand among its portfolio of 34 brands such as PG tips, Pukka, T2, and TAZO, operates 11 production factories across four continents and tea estates in three countries. The business generated revenues of around €2 billion in 2020 and focuses on growing wellbeing through the regenerative power of plants. The transaction excludes Unilever’s tea operations in India, Nepal, and Indonesia, as well as interests in Pepsi Lipton ready-to-drink tea joint ventures, which generate roughly another €1 billion in sales. The deal, funded by CVC Capital Partners Fund VIII, is expected to close in the second half of 2022 and involves a two-year unbundling process due to spin-off complexity. CVC aims to accelerate ekaterra’s growth and lead sustainable development in the tea category.

Lipton acquisition details
AcquirerDateTypePriceEV/Revenue
18 Nov 2021PE buyout$4.9B2.3x

Lipton Funding History

Lipton has raised a total of $58M across 1 funding round.

Lipton funding rounds

Lipton funding rounds
DateStageInvestorsRaisedDeal Summary
Apr 2026Undisclosed stageCVC Capital Partners (lead)$58MCVC Capital Partners led shareholders injected €210 million into Lipton Teas and Infusions in April 2026, consisting of fresh equity, shareholder loans, and €160 million in secured debt against non-US intellectual property. This follows a €40 million injection the prior year and aims to support a turnaround under new management amid over €3 billion in existing debt, including secured term loans, a €375 million revolving credit facility, and an Australian dollar-denominated second-lien term loan. The capital strengthens liquidity, reduces restructuring risk, and underpins profitability recovery as revenues decline. The structure prioritizes shareholders' claims over non-US IP assets ahead of term loan lenders within the restricted group under existing debt agreements. Lipton Teas and Infusions, acquired by CVC from Unilever in 2022 and previously sold to Browns Investments in May 2024, produces black tea and infusion products. Revenues fell from €2 billion to €1.57 billion in 2024.

Who has invested in Lipton?

1 investor has backed Lipton across its funding rounds, including CVC Capital Partners.

Lead investors include CVC Capital Partners.


Lipton Investors

Investors in Lipton by funding rounds participated
InvestorHQRoundsRoleFirst check

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Lipton Competitors

Lipton competitors include listed companies like Vinamilk, Yamazaki Baking, Coca Cola Icecek and Marfrig, and private ones like Saturnbird Coffee and Peranel.

Public and private companies comparable to Lipton
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
VinamilkVietnamVietnamPublicly listed$2.5B$500M$4.9B1.6x
Yamazaki BakingJapanJapanPublicly listed$8.4B$693M$4.8B0.5x
Coca Cola IcecekTurkeyTurkeyPublicly listed$3.8B$805M$4.6B1.1x
MarfrigBrazilBrazilPublicly listed$32B$2.2B$4.6B0.5x
Saturnbird CoffeeChinaChangshaPrivate$61M-$4.5B74.0x
PeranelFranceParisPrivate--$5.6B-

Lipton Public Comps

Lipton is no longer listed, but its public comps include Vinamilk, Yamazaki Baking, Coca Cola Icecek, Marfrig, Indofood CBP, Angel Yeast, Nestlé Malaysia, The Chefs' Warehouse, Yakult Honsha and Charoen Pokphand Foods.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Vinamilk$2.5B$500M1.8x1.6x8.6x8.1x
Yamazaki Baking$8.4B$693M0.5x0.5x6.7x6.5x
Coca Cola Icecek$3.8B$805M1.4x1.1x6.8x6.1x
Marfrig$32B$2.2B0.5x0.5x6.8x6.1x
Indofood CBP$4.2B$953M1.6x1.5x7.0x6.4x
Angel Yeast$2.5B$439M2.5x2.3x14.3x13.3x
Nestlé Malaysia$1.7B$229M3.2x3.0x23.2x19.9x
The Chefs' Warehouse$4.1B$223M1.3x1.2x23.8x17.8x

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Common questions about Lipton

Where is Lipton headquartered?Lipton is headquartered in Englewood Cliffs, NJ, United States.
Is Lipton publicly listed?No, Lipton was acquired by CVC Capital Partners in November 2021.
Who acquired Lipton?Lipton was acquired by CVC Capital Partners in November 2021.
How much was Lipton acquired for?Lipton was acquired for $4.9B in November 2021, a 2.3x revenue multiple.
How much funding has Lipton raised?Lipton has raised $58M across 1 funding round.
What was Lipton's last funding round?Lipton's last funding round was a $58M undisclosed-stage round in April 2026, led by CVC Capital Partners.
Who are Lipton's investors?Lipton's investors include CVC Capital Partners.
Which companies are comparable to Lipton?Companies comparable to Lipton include Vinamilk, Yamazaki Baking, Coca Cola Icecek, Marfrig, Saturnbird Coffee and Peranel.

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