A vape company has bought Typhoo Tea in a multimillion pound deal after the 120-year-old British based firm was plunged into administration.
Last year, thieves targeted its factory in Wirral, Merseyside, causing "extensive damage" and making the site "inaccessible", The Mirror reports. Its latest company filings showed a £38million loss last year, while sales fell by a quarter to £25.3million. Typhoo was founded in 1903 and is understood to have fewer than 100 employees. It has appointed Kroll to handle its administration process.
Supreme said in a statement: "Supreme is pleased to announce the acquisition of the trade and selected assets of Typhoo Tea Limited for a total cash consideration of £10.2million out of administration.
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