Unilever to Transfer its Limuru Tea Business to Unilever Tea HoldCo UK Ltd

Limuru Tea is an outgrower for Unilever Tea Kenya and owns 282 acres of tea plantations in Limuru. UTKL started as Brooke Bond Kenya (BBK). The name was changed to Unilever Tea Kenya Limited (UTKL) in 2004. Currently, UTKL has a total landholding standing at 16 223 acres, has 20 tea estates and eight factories manufacturing an average of 32 million kgs of tea per year.

Tea Estate in Limuru I https://twitter.com/minna_kuu

Unilever Tea Kenya Limited’s Board of Directors has approved plans to separate its tea business from Unilever Plc, a British multinational consumer goods company.

In a statement, the transfer of the balance of Unilever Plc’s tea brands and geographies and all tea estates in which Limuru Tea Plc falls to will be transferred to a foreign newly incorporated tea company Unilever Tea Holdco UK Limited (TeaCo).

The transfer also includes the transfer of Unilever’s indirect interest in Limuru Tea.

“The assets being transferred by Unilever to TeaCo include Unilever’s shareholding in Unilever Tea Kenya Limited. By virtue of the transfer of shares, Unilever’s indirect interest in Limuru Teal Plc will also transfer to TeaCo,” Dr Richard Koriri, Chairman Limuru Tea Plc said.

Unilever Kenya owns a 52% stake in the Nairobi listed Limuru Tea Plc.

Limuru Tea is an outgrower for Unilever Tea Kenya and owns 282 acres of tea plantations in Limuru.

The transfer is subject to any regulatory approvals after the Unilever Tea Kenya limited’s Board of Director approval of the proposed separation which is projected to be concluded by the end of the year.

Unilever to Retain Limuru Tea Business After Separation