DavidsTea co-founder to explore privatization option
Canadian specialty tea and tea accessory retailer DavidsTea Inc (Nasdaq: DTEA) said Herschel Segal, who co-founded the company in 2008, has resigned from the board. In a letter to the board on behalf of Rainy Day Investments (RDI), Segal announced the beginning of a process to explore a privatization deal for DavidsTea. RDI, which is controlled by Segal, will present a proposal to buy out minority investors or pursue an alternative deal. Montréal-based DavidsTea went public in 2015. U.S. growth equity firm Highland Consumer Partners backed the company prior to the initial public offering and continues to hold a stake.
9 March 2018•3 mins read
