Unilever Lipton Ice Tea: overviewUnilever\u2019s food business deal excludes Lipton Ice Tea operationsLipton Ice Tea remains owned through Pepsi Lipton joint ventureReady-to-drink beverages sit outside Unilever\u2019s core foods transactionPepsi Lipton operates independently across five global regional divisionsUnilever already sold most tea brands in 2021<\/p>\n
In March this year, Unilever agreed to merge its food businesses with US giant McCormick<\/a>, with the exception of India. Iconic brands such as Knorr and Hellmann\u2019s were part of the deal. But a key brand wasn\u2019t: Lipton Ice Tea.<\/p>\n The ice tea brand, which is co-owned by Unilever in a joint venture with PepsiCo, called Pepsi Lipton, will retain Unilever\u2019s involvement. <\/p>\n The brand will not be included in the deal with McCormick, explains a spokesperson for Unilever. The joint venture with PepsiCo will remain in place. <\/p>\n \u201cReady-to-Drink beverages are very different from the other products in Unilever\u2019s Foods portfolio, which is why the business is not included in the transaction,\u201d says the spokesperson.<\/p>\n How the joint venture works <\/p>\n Pepsi Lipton is, as well as being a joint venture between Unilever and PepsiCo, also \u201ca company in its own right\u201d, with its own board of directors, according to the joint venture. <\/p>\n It operates through five regional organisations \u2013 North America, ESSA (Europe and Sub-Saharan Africa), Latin America, AMEA (Africa, Middle East and Asia) and Greater China. <\/p>\n Unilever and tea<\/p>\n Unilever used to have other tea brands as well. In 2021, it sold its tea portfolio<\/a>, which included iconic brands such as PG Tips, to venture capital firm CVC Capital Partners.\u00a0<\/p>\n