Founded as a spin-off from Unilever in 2021,[4] it is the largest tea company in the world, owning brands, such as Lipton, PG Tips, and TAZO.

[5] First formed in 2020 as a distinct division within Unilever named Ekaterra, in November 2021, Jersey-based private equity firm CVC Capital Partners reached an agreement to purchase the business for €4.5 billion.

Unilever retained the use of the brands in India, Nepal, and Indonesia, as well as its ready-to-drink Lipton Iced Tea joint venture with PepsiCo.

[9] The Lipton tea business was acquired by consumer goods company Unilever in a number of separate transactions, completed in 1972 when Unilever bought the remainder of the global Lipton business from Allied Suppliers.

[12] The company launched the Lipton Tea Innovation & Technology Academy together with the Government of Kenya and the University of Kabianga in February 2024 to offer training varying from vocational courses to advanced degrees in tea growing and harvesting.