Mars Veteran Grant Reid Takes Lipton Chair as CVC Pumps €210M Into Tea Giant's Turnaround

CVC injects €210m into Lipton

CVC Capital Partners is providing a €210m capital injection into tea group Lipton as it works to stabilise the business following its €4.5bn acquisition from Unilever, amid growing concerns over the company’s leveraged balance sheet and weakening trading performance, according to a report by the Financial Times. The fresh funding is aimed at easing liquidity pressure and reducing the risk of a potential debt restructuring at the maker of PG Tips…

Mars Veteran Grant Reid Takes Lipton Chair as CVC Pumps €210M into Tea Giant's Turnaround

Private equity firm CVC Capital Partners just handed Lipton Teas & Infusions a €210 million lifeline. The cash comes amid mounting pressures on the €4.5 billion tea business it bought from Unilever four years ago. And now, former Mars CEO Grant Reid steps in as chair, effective immediately. Reid brings three decades at Mars, including nine years as CEO. Sales there climbed over 50% on his watch. Pet services expanded. Sustainability initiatives …

Ex-Mars CEO named Lipton Teas board chair

Lipton Teas & Infusions has announced former Mars president and chief executive officer, Grant Reid, as its new chair.

Ex-Mars CEO named Lipton chair

Former Mars CEO Grant Reid has joined Lipton Teas & Infusions as the hot-drinks group’s chair.

Lipton Teas & Infusions appoints former Mars CEO Grant Reid as chair

Lipton Teas & Infusions has appointed Grant Reid as chair, effective immediately.