Supreme PLC (AIM:SUP) is in advanced talks to acquire Typhoo Tea after the more than 100-year-old brand entered administration.
While the vape firm has cautioned that a deal is not yet certain, the administrators, Kroll, are working to finalise the sale.
Typhoo, which has faced years of financial difficulties, reported a £38 million loss in 2023 as sales fell 25% to £25.3 million.
The brand has struggled with supply chain disruptions and cash flow issues, worsened by a break-in at its Merseyside factory last year that caused significant damage and led to the site’s sale in 2024.
The administration process aims to safeguard Typhoo’s operations while providing time to complete a potential sale.