“This acquisition demonstrates our willingness to invest in businesses that can help fuel profitable growth and broaden our existing tea extracts business in North America. Finlays is already a major player in the U.K. roast and ground coffee market, and there are some obvious synergies between tea and coffee extracts around customers and product development,” said Ron Mathison, Finlay’s group managing director.
“The U.S. market is an exciting area for Finlays, and we are looking forward to putting more emphasis on our operations here. The acquisition will double the size of our business in the U.S., giving us greater scale and access to new channels. Entering the coffee extracts market is a natural extension for our own tea extracts business, providing excellent opportunities for growth.”
Finlays operates in all parts of the tea supply chain and brings “bush to cup” tea knowledge in leaf tea procurement and product development. It is also the leading private label packer of roast and ground coffee in the United Kingdom.
Both companies have been operating independently for more than 100 years.
Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.