How tea plantations are testing private equity

Unilever’s sale of its tea business has become a test for how PE groups approach workers’ pay, conditions and safety

Late last year Unilever reached a $5 billion deal to sell part of its tea business, including brands like Lipton and PG Tips, to private equity giant CVC Capital. But the tea sector is a complicated one. With roots in colonialism, tea plantations around the world have faced many issues, including accusations of human rights abuses.

In this week’s episode, we’re hearing from one worker whose life was forever changed by violence on her plantation, and exploring how this deal represents a new challenge for PE as investors are increasing their scrutiny into the private equity industry’s ethics.

Clips courtesy of Unilever, Al Jazeera, AP

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For further reading:

How Unilever’s tea business became a test of private equity’s conscience

Bidders for Unilever’s tea business pulled out on plantation concerns

CVC pushes back IPO plans amid market turmoil

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On Twitter, follow Judith Evans (@JudithREvans), Kaye Wiggins (@kayewiggins) and Michela Tindera (@mtindera07)

Read a transcript of this episode on FT.com

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