Shaw & Co assist Bristol-based Pukka Herbs on its acquisition by Unilever.
The pioneering British brand has a turnover of over £30m and has been delivering growth of around 30% per annum. It is growing rapidly across Europe and the US. According to Euromonitor 2016, Pukka is the fastest growing organic tea company in the world. The herbal, fruit and green tea market is currently worth €1.6bn (Nielsen data 2016) which trends suggest will become even more prominent globally in the future.
Pukka Herbs was founded in 2001 by Tim Westwell and Sebastian Pole. With 100% certified, organic and ethically sourced ingredients, Pukka’s health and wellness philosophy centres around benefitting people, plants and planet. This represents a clear synergy with Unilever’s own sustainable living plan.
The deal marks a springboard into Pukka’s exciting future.
Tim Westwell, Pukka co-founder and CEO said: “We believe in business being a force for good in society, so from the beginning it was very important to us to find an advisor who would keep our values at the top of the agenda."
Shaw & Co have been excellent in helping us to find a partner and deliver a deal that will maintain our ethical and environmental promises. At every step of the journey, through the build up to our sale, and in the subsequent acquisition by Unilever, Shaw & Co worked with us to protect and champion Pukka’s values and mission. "
Westwell added: "They (Shaw & Co) have helped us find the right home in Unilever, and to create an exciting future for Pukka Herbs. For purpose-led businesses in the South West seeking to grow I recommend Shaw & Co.”
Sebastian Pole, Pukka co-founder and Master Herbsmith commented: “Choosing Unilever came down to two fundamentals: scale and sustainability. It is a leader in social and environmental change and it wholeheartedly embraces Pukka’s beliefs. So, there’s a meeting of values. Pukka will remain 100% organic and a champion for fair trading through pioneering schemes like Fair for Life, and continue to donate 1% of its sales to global environmental charities. With Unilever, we have new levels of reach and opportunity.”
Jim Shaw, Founder & CEO at Shaw & Co and Lead Advisor to the founders of Pukka Herbs on the deal, said: “Having worked with Tim and Sebastian for several years in the build up to their sale, it’s very rewarding to have helped this ambitious duo achieve such a fantastic result. Unilever opens doors for the future of Pukka Herbs, and I look forward to their continued success.”
The rapid growth and popularity of Pukka Herbs' products meant there was an opportunity to go global. Its owners came to us to help find a new owner to take the brand to the next level.
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