With the aim of reshaping its business to focus on new consumer trends and healthcare, Nestle has sold two of its tea brands in North America
Private equity firm Fireman Capital Partners said it has linked up with Dunn’s River Brands to buy the Sweet Leaf Tea and Tradewinds businesses from Nestle North America.
Earlier this month the Swiss company announced the purchase of Canadian vitamin maker Atrium Innovations for $2.3 billion, its fourth purchase in recent months.
It has bought Sweet Earth vegetarian foods and Blue Bottle coffee in September and Chameleon Cold-Brew coffee in November as it adjusts to a market where customers favour smaller, independent brands.
Nestle came under pressure this year to improve returns from activist shareholder Third Point.