Steve’s breakdown: In late November we posted that Unilever sold off many of its beverage brands and that “Advertising will change hands”. (See bottom) Well, here we go!

Aparna Sundaresh is the CMO

ROTTERDAM, Netherlands: A global media review has been launched by the owner of tea brands such as Lipton, Pukka, PG Tips, Tazo and Brooke Bond.

The review from Ekaterra follows its sale from former parent company Unilever to CVC Capital Partners Fund VIII for nearly $5 billion (4.5 billion Euros) last November. The review will be conducted by ID Comms with the aim of finding a new media partner by June this year, around the same time the acquisition is expected to receive regulatory approval.

The aim of the review is to find a “strategic partner,” which offers a “digital-first mindset” that will support campaigns and investments made across over 50 markets.

On agreeing to the deal to purchase the business, Pev Hooper, a managing partner at CVC Capital Partners, described Ekaterra  as “a great business, built on strong foundations of leading brands and a purpose-driven approach to its products, people and communities.” He added that it was “well-positioned in an attractive market to accelerate its future growth and to lead the category’s sustainable development.”

Chief marketing and digital officer for Ekaterra, Aparna Sundaresh, highlighted the company’s ambition to place a “relentless consumer-centric focus” on its strategy, with media seen as “one of the most powerful tools” to drive the business.

“As a house of purposeful brands with a mission to grow a world of well-being, we want to choose an agency partner with a shared passion for our consumers and an appreciation for the role that our brands can play in their lives,” added Sundaresh.

The incumbent for Ekaterra was Mindshare, which won the $3.3 billion media review of Unilever’s business last September prior to the sale being agreed.

Founded in 1869, the business was acquired by Unilever in 1934. Other Ekaterra tea brands include Red Rose and T2.

Source:

34 brands just got sold: Advertising will change hands