The deal, which was for an undisclosed sum, is expected to be completed by the end of the year.
For reshaping its business to focus on new consumer trends and healthcare, world’s biggest food maker Nestle has sold its two tea brands.
Private equity firm Fireman Capital Partners has linked up with Dunn’s River Brands to buy the Sweet Leaf Tea and Tradewinds businesses from Nestle North America.
The deal, which was for an undisclosed sum, is expected to be completed by the end of the year.
In June Nestle might sell its U.S. confectionery business, which includes regional mass-market brands such as Butterfinger, Crunch and 100 Grand and could be valued at around $2 billion.
Earlier this month the Swiss company announced the purchase of Canadian vitamin maker Atrium Innovations for $2.3 billion, its fourth purchase in recent months.
Nestle has embarked upon an overhaul of its brands and strategy as it seeks to overcome sluggish growth in its traditional businesses.
