The story
Founded by Steven Smith in 1994.1
Tazo Tea was founded in 1994 by Steven Smith. The manufacturing and distribution was maintained by North American Tea & Coffee, a Canadian-based food manufacturing company.
Tazo approached then Starbucks CEO Howard Schultz in 1998, seeking further investment partners. The company was purchased by Starbucks in 1999 for $8.1 million.
Starbucks opened the first Tazo-branded tea shop in November 2012. It closed a year later and was converted into a Teavana store.
In November 2017, Starbucks sold Tazo to Unilever for $384 million.
Unilever reached an agreement in November 2021 to sell the majority of its tea business to private equity firm CVC Capital Partners for €4.5 billion. This included the Tazo business. The sale was completed in July 2022, with the new company named Lipton Teas and Infusions.
From Wikipedia’s article on Tazo, shared under CC BY-SA 4.0.4
