Italian tea company Everton, owned by Clessidra Private Equity, has acquired US-based Eastern Tea, which produces tea under the Bromley brand and is a supplier for private labels.
The two parties did not disclose the financial details of the transaction.
This acquisition strengthens Everton's global reach, especially in North America, where it will expand its production and enhance product offerings.
Everton, headquartered in Tagliolo Monferrato (Alessandria), generated approximately €45 million in revenue in its 2024 financial year.
The company specialises in the production of tea, herbal teas, and infusions. It has production facilities in Italy, India, and Croatia, and controls its entire production process, from cultivation and processing to packaging.
A Major Global Player
The purchase of Eastern Tea will create synergies in sourcing, distribution, sales and innovation, positioning the combined company as a major global player in the tea and infusions market.
Everton's CEO, Federico Dodero, stated that this acquisition is a major step in its growth plan and will allow the company to offer a wider range of innovative products to North American consumers, focusing on increasing sales and market share in the US private-label segment.
Eastern Tea owners, Glenn and Ira Barbakoff, expressed enthusiasm about the deal, adding that they believe Everton's global tea expertise will enable them to broaden their product offerings and reinforce partner relationships.
Based in Monroe Township, New Jersey, Eastern Tea is active in the retail and food service channels. The Barbakoff family has owned and operated the company since 1982.
Known for its high-quality ingredients, blends, and packaging, the company provides a range of black and green teas.
