Unilever buys Maryanne Shearer’s T2, with annual sales of A$57 million, to expand tea presence

September 9, 2013 Leave a comment

Unilever buys Maryanne Shearer’s T2 to expand tea presence

Published 09 September 2013 09:02

Sue Mitchell

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T2’s Maryanne Shearer has sold her business to Unilever for an undisclosed sum.

She opened her first teashop on Brunswick Street in Melbourne’s funky Fitzroy in 1996 and made her name selling brews such as Sencha Quince, Liquorice Legs and Strawberries & Cream. Now Maryanne Shearer, the founder of Australia’s fastest-growing premium tea chain T2, has sold out to the world’s largest tea company, Unilever. The purchase price was not disclosed, but with annual sales around $57 million and a record of strong double digit sales growth, it’s fair to assume that Ms Shearer, 50, will be able to retire in comfort when she finally tires of tea.For Unilever, which owns the Lipton and Bushells brands, the acquisition is part of a strategy to expand in the premium tea category and use its global scale to take the T2 brand into new markets.

Unilever Australasia chairman Clive Stiff said the Anglo-Dutch consumer products giant, which makes Omo, Dove, Sunsilk and Rexona as well as tea, would ensure that T2’s unique culture and aesthetic was maintained.

T2 currently operates 40 company-owned retail stores in Australia and sells its range of more than 200 teas through independent food and homewares retailers, restaurants and cafes. It sources tea from China, Sri Lanka and India.

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